🚀 ProPicks AI Hits +34.9% Return!Read Now

France asks for independent audit of EDF's Flamanville nuclear plant

Published 05/07/2019, 20:00
Updated 05/07/2019, 20:06
France asks for independent audit of EDF's Flamanville nuclear plant
EDF
-
PEUP
-

PARIS (Reuters) - The French government has requested an independent audit of EDF's (PA:EDF) Flamanville nuclear plant, which faces new cost overruns and delays of up to three years after a regulator ordered repairs last month.

ASN, the French nuclear watchdog, said that state-owned EDF would have to repair eight faulty weldings in the reactor's containment building, adding that it had rejected a request to delay repairs until 2024.

The decision could mean the Flamanville startup would again be delayed by two or three years from the most recent startup target of loading fuel in the reactor by the end of this year.

France's Economy minister Bruno Le Maire told BFM television on Friday that "incidents" at Flamanville, northern France, were "unacceptable", adding that he had asked a former executive with car maker PSA (PA:PEUP), Jean-Martin Folz, to conduct an independent inquiry.

Le Maire did not elaborate on a timeframe.

EDF wants to build new reactors as its current fleet is ageing.

Flamanville's problems have weighed heavily on the future of the nuclear industry in France as well as EDF's export prospects.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.