{"id":363575,"date":"2025-08-22T02:58:16","date_gmt":"2025-08-22T02:58:16","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/363575\/"},"modified":"2025-08-22T02:58:16","modified_gmt":"2025-08-22T02:58:16","slug":"how-frances-nuclear-dream-became-a-financial-nightmare","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/363575\/","title":{"rendered":"How France\u2019s nuclear dream became a financial nightmare"},"content":{"rendered":"

Decades of neglect, spiralling costs and political denial have turned France\u2019s once-vaunted nuclear program into a cautionary tale, writes Jean-Luc Porquet (translated by Dr Evan Jones<\/a>).<\/p>\n

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Translator\u2019s note: The French nuclear power sector is in deep trouble technically and financially. Formally a cheap source of power, embedded costs have not been counted. There has been a dramatic loss of skills over the decades, inhibiting effective maintenance of existing plants and turning the construction of France\u2019s then most powerful reactor at Flamanville<\/a> on the Normandy coast into a nightmare. <\/strong><\/p>\n


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Technological and resource challenges have escalated, including water availability in the face of climate change. The plan to bury accumulated highly radioactive waste at Bure, 250 kilometres east of Paris, remains at an impasse. And the political class lives in denial. <\/strong><\/p>\n


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Meanwhile, sections of the Coalition parties cling to nuclear power as Australia\u2019s post-coal salvation. Australia has uranium. However, regarding nuclear power prospects, there is no history, no capacities, no acceptable locations, no acceptable burial sites and no water. In short, local nuclear power adherents have no brains.<\/strong><\/p>\n

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EVERYTHING WAS SUPPOSED to work to plan.<\/p>\n

The 58 French nuclear reactors built at an accelerated pace between 1977 and 1996 were due to tranquilly finish their life after 30 years of good and faithful service. And the new super-powerful EPRs [European Pressurised Reactors<\/a>], designed and built by \u00c9l\u00e9ctricit\u00e9 de France<\/a>, were to effect a seamless transition.<\/p>\n

It was estimated that, by 2012, the first French EPR would be put into operation at Flamanville.<\/p>\n

Kapow! Not only has its cost, initially fixed at \u20ac3.3 billion [AU$5.9 billion], multiplied by six (!), but its construction site has proved a nightmare. The EPR was connected to the grid only in 2024. And it has hardly run since (it is currently in shutdown).<\/p>\n

\"Ted<\/a><\/p>\n

An emergency patch-up job has been necessary on the aged French nuclear park so that its tired reactors can hang on for another 20 years. Total cost of this major overhaul now in progress: \u20ac100 billion [AU$180 billion].<\/p>\n

At the moment when the urgent necessity to find \u20ac40 billion [AU$72 billion] in economies for the 2026 budget obsesses the Bayrou<\/a> Government [under pressure from Brussels], Reporterre<\/a> publishes on YouTube a remarkable documentary by journalist Laure Noualhat<\/a>, titled\u00a0Nucl\u00e9aire \u2013 Comment il va ruiner la France<\/a>. (See also Noulhat\u2019s book, Le nucl\u00e9aire va ruiner la France<\/a>, Seuil-Reporterre, 224p.) It is noted there that, in the fairytale world that is nuclear energy, billions waltz out by the dozens. The golden rule is: \u201cWhatever it costs!\u201d<\/p>\n

Other inescapable costs to come? To prolong the life of the plant at The Hague, where nuclear fuel is processed and which is at the end of its life \u2014 rough estimate: \u20ac34 billion [AU$61 billion]. To continue to dig deep at Bure<\/a>, where the most dangerous nuclear waste will be buried 500 metres below ground \u2014 estimated cost: \u20ac35 billion [AU$63 billion]. To dismantle the 58 reactors, which, even patched up, will finish by being at the end of their life in ten or 20 years \u2014 cost: \u20ac50 billion. Total: \u20ac219 [AU$395.8 billion] to find. This is not all.<\/p>\n

The EDF has sold an EPR to Finland for \u20ac3 billion [AU$5.4 billion] and two others to the United Kingdom for \u20ac22 billion [AU$39.7 billion]. And has promised to take care of any additional costs. Such comes in at \u20ac12 billion [AU$21.6 billion] for the former, \u20ac56 billion [AU$101 billion] for the latter. Do the maths.<\/p>\n

\"Nuclear<\/a><\/p>\n

Thomas Piquemal<\/a>, the EDF\u2019s chief financial officer at the time, went into meltdown. And resigned [in March 2016]. And this is not all.<\/p>\n

In 2022, President Macron<\/a> announced that, at his demand, the EDF will launch six \u201cnew generation\u201d EPRs [initially, then eight more to 2050]. Hand on heart, it will happen (in fact, one knows nothing about them). Estimated total price: \u20ac100 billion [AU$180.7 billion] (more or less). A former EDF Director, Philippe Huet<\/a>, interviewed by Laure Noualhat, called this a \u201ccrazy gamble\u201d.<\/p>\n

If ever this delusional program (transparently dismissed by the Cour des comptes<\/a> [equivalent to the National Audit Office] as inadvisable) sees the day, who will pay for it? Not the EDF, already indebted to the tune of \u20ac55 billion [AU$99 billion]. Nor any private investor (not mad!). Guess…<\/p>\n<\/p>\n

Jean-Luc Porquet<\/a> has been a journalist at Le Canard encha\u00een\u00e9<\/a> since 1994, where this article appeared on 9 July. He writes a column on ecology and technocratic society, as well as theatre reviews.<\/strong><\/p>\n

Translated by Dr Evan Jones<\/a>, with permission.<\/strong><\/p>\n

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