In a January meeting behind closed doors at the House of Commons, attended by the French energy company and stakeholders, the frustration in the room was tangible. Pro-nuclear groups labelled EDF’s delays “embarrassing” as tempers frayed over costs, deadlines and past failures. EDF’s nervousness follows a litany of failures at all three other recent attempts to build a European Pressurised Reactor (EPR), the design they hope to construct in Somerset. Hinkley Point supplier and EDF merger partner Areva is embroiled in complex legal action over the nuclear power plant owned by Teollisuuden Voima (TVO), the Finnish company with whom they partnered. The nuclear energy power plant was supposed to come online in 2010, but its earliest deadline is now 2018. Partly culpable for the delay is Areva’s dispute with TVO at the International Arbitration Court over increased costs, with TVO seeking compensations of 2.6 billion euros from the Areva-Siemens consortium, while Areva is counter-claiming 3.5 billion euros. At the APPG, EDF suggested mistakes were made in the contract with the signatory parties not understanding each other’s duties. EDF is now looking at a similar contract, this time with China’s CGN.
Energydesk 7th March 2016 read more »