French Gov Seeks Investors for Areva
The source close to the deal said there were strong disagreements between the potential bidders and the French state on the valuation of Areva. "They are having a hard time valuing the company (Areva) and coming to an accord with the bidders over price. The assets are incredibly difficult to value," the source said. He said the nuclear reactor building arm of Areva had produced little or no profits while uranium enrichment and waste treatment were "indecently" profitable.
"They are having a hard time valuing the company (Areva) and coming to an accord with the bidders over price. The assets are incredibly difficult to value," the source said.
He said the nuclear reactor building arm of Areva had produced little or no profits while uranium enrichment and waste treatment were "indecently" profitable.
I hear that EDF is hoping to complete its EPR before the Finnish one... In the long run, we're all dead. John Maynard Keynes
The site under construction (Dec 2007) You can't be me, I'm taken
Like, having to re-do some shoddily poured concrete and misplaced piping?... If I want to be fair, the inexperience factor is more because the current workers had no opportunity to having turned experienced workers on earlier nuclewr constructions.
BTW, an article linked earlier on ET was this one. *Lunatic*, n. One whose delusions are out of fashion.
FT.com / Companies / Utilities - Countries question Areva's reactor design
Nuclear safety authorities in three countries have raised questions over the design of control and command systems in Areva's new generation EPR reactor, the latest in a series of blows to hit the flagship of France's international nuclear ambitions.Authorities in France, Finland and the UK have asked for changes to ensure greater independence of the reactor's safety systems from control operations. "The EPR design, as originally proposed by the licensees and the manufacturer, Areva, doesn't comply with the independence principle, as there is a very high degree of complex interconnectivity between the control and safety systems," they said in a statement.
Nuclear safety authorities in three countries have raised questions over the design of control and command systems in Areva's new generation EPR reactor, the latest in a series of blows to hit the flagship of France's international nuclear ambitions.
Authorities in France, Finland and the UK have asked for changes to ensure greater independence of the reactor's safety systems from control operations. "The EPR design, as originally proposed by the licensees and the manufacturer, Areva, doesn't comply with the independence principle, as there is a very high degree of complex interconnectivity between the control and safety systems," they said in a statement.
The watchdog itself intervened to say that the interpretation made in the media of this announcement was widely off the mark. In the long run, we're all dead. John Maynard Keynes
The Finnish authority also sought to play down the issue when an identical note was leaked. The also similar British criticism however IIRC was not a leak. *Lunatic*, n. One whose delusions are out of fashion.
Meanwhile at an investors' day in Paris, EDF said the EPR which is being built in Flamanville would cost €4bn (£3.47bn) at 2008 prices instead of €3.3bn . "This update takes into account increase in prices and the effects of some contractual indexes due to higher raw material costs and the impact of technical and regulatory evolutions," explained EDF.
Meanwhile at an investors' day in Paris, EDF said the EPR which is being built in Flamanville would cost €4bn (£3.47bn) at 2008 prices instead of €3.3bn .
"This update takes into account increase in prices and the effects of some contractual indexes due to higher raw material costs and the impact of technical and regulatory evolutions," explained EDF.
One may celebrate that the cost increase so far is less than at Olkiluoto 3 (where it essentially doubled to €5 billion), but even the €3.3 billion was already well above the Olkiluoto 3 offer price, so it's not just the prototype that gets more expensive. *Lunatic*, n. One whose delusions are out of fashion.
Mostly the problem is, however, a supply chain that is not remotely sized to service demand for current nuclear build, and is laughably inadequate for either projected or nessesary build. The world needs a lot more Japan Steel sized forges.
Mmmph, I think the construction of a nuclear plant typically spans a business cycle. At any rate, the nicely worded factor of "the impact of technical and regulatory evolutions" will remain wheneverand wherever a third EPR is started. *Lunatic*, n. One whose delusions are out of fashion.
