Note (very) salty French nuclear – Le Point

After Areva, mired (among others) in the EPR construction site whose bill continues to surge, there will the EDF group, in turn, experience financial difficulties because of a poorly budgeted nuclear project? The action group, producer and supplier of electricity, has experienced significant fluctuations in the Paris Stock Exchange since the beginning of the week after the revaluation of the cost of the burial site for radioactive waste in Bure storage center ( Meuse).

The construction, operation and maintenance of the industrial center of geological storage (Cigéo) should be buried where the most dangerous radioactive waste, and longer also reprocessed, will cost 32 , 8 billion euros, announced the National Agency for the management of nuclear waste (Andra). The construction of the plant, a giant warehouse-like labyrinth, dug 500 meters deep, is estimated at 19.8 billion euros, according to Andra. His “exploitation” and “maintenance” until 2144, when the infrastructure will be deemed obsolete and where the fuel should have lost its radioactivity is, in turn, estimated at 8.8 billion, what s ‘add 4.1 billion in taxes and fees. And even ! These figures do not presume a possible rise in inflation. This amount is two times higher than previous estimates forwarded particularly by the incumbent French nuclear power plants. A working group had estimated in 2005 that the project would cost between 13.5 and 16.5 billion euros over a hundred years.

panic in the markets

EDF, Areva and the Commissariat à l’Energie Atomique (CEA) have been quick to react to the Ministry of Ecology and Energy. By official letter dated January 11, players in this folder challenged the new encryption. They point out that Andra has not retained its assessment for some cost estimates which “differ significantly from our experience feedback” and including “optimizations” identified since late 2012. Radioactive waste producers retained a “base cost” 14,100,000,000, revalued to € 16.5 billion in 2012. If the amount of this note has temporarily panicked markets (EDF shares lost 5% in stock for a few hours on January 12), it should not surprise. A parliamentary inquiry committee on the costs of nuclear power had already mentioned a bill to € 30 billion, just a few weeks. Against EUR 20 billion by EDF, Areva and CEA.

Cigéo landfill site Bure must accommodate thousands of waste containers (corresponding to only 3% of the total nuclear waste) ensure containment because of their toxicity. A decree authorizing the start of construction is expected in 2018. The construction of storage facilities could begin in four years. The development site is scheduled for commercial operation in 2025.