Search
We were not able to manage them economicallyThe White Knight hopes to take a stake of 33Just as the latest air conditioning units5 the plan from that offset the worsening of the crisisThe challenge was architectural and logisticalUnder penalty it will compel such listed company to provide critical market informationAttention also sensitivity indicated in ISOObviously some have difficulty understanding he toldThe commune of Ixelles and its inhabitants 77As the companies to pay dividends to each otherOperation truth for EDF. The French electrician prepares to unveil, tomorrow in London, at a meeting with investors, an increase of 20 of the cost of the EPR. A Board of Directors was held yesterday on the subject. According to well-informed sources, the cost of production of electricity from the head of the nuclear reactor of third generation series would be now estimated at about 55 euros megawatt hour (MWh). At the launch of the project of Flamanville (Manche), in May 2006, the Group was on a cost of 46 euros the MWh.
The first PRT built in France should represent an investment cost of more than 4 billion euros, compared to the originally planned 3.3 billion. This increase is less than the slippage suffered by Areva at Olkiluoto, Finland, where the nuclear group built a reactor to TVO client. The Finnish invoice approaching now the 4.5 billion euros, 3 billion announced at the launch of the project in 2005.
An advantage to erode
EDF as Areva face particular security constraints which have proven to be harder than expected. They have also faced hazards, such as complicated digging of a tunnel for evacuation at Flamanville well. To take its time in service in 2012, the electrician has thus resorted to a more expensive technology.
At about 55 euros MWh, the economic advantage of nuclear power is eroding. Retaining the hypothesis of an oil price at 40 $ to 60 $ per barrel and a penalty of CO2 emissions between 10 euros and 20 euros per tonne, EDF estimates the cost of production of baseload electricity from gas or coal from 50 euros to 60 euros per MWh. In terms of pure economic competitiveness, nuclear power is his advantage decrease from other streams. However, his supporters continue to put forward a key asset: its low CO2 emissions. The final bill could again drag. The pattern of the German giant of the E.ON energy table on an investment of 5 billion to 6 billion euros for a PRT. However, the cost of the reactors is expected to decrease with the effect of series. It will also vary in function of countries. "With standardized controls, costs and deadlines, so the price fall from the third instalment", notes one expert. This is the bet of EDF in Britain, which wants to build 4 EPR.
Currently, the Habs electrician sells its electricity 39 euros to 50 euros per MWh the rates (individual, business...). He manages to ensure these prices with the cost of production of its existing fleet, which is estimated around 37 euros the MWh. But, to extend the life of its 58 reactors, the electrician will have to invest heavily, which could have an impact on the economic equation of the French nuclear Park.
In this context, the first PRT may weigh on the profitability of EDF. Unless the Government agrees to considerably increase the price of electricity in France. It is in the combat that leads the group behind the scenes. The State shareholder would benefit from such increases. But such a scenario appears to be extremely difficult at this time of crisis. As the public service contract limited the increase in the tariff to inflation.
