Slashdot Mirror
French Nuclear Industry In Turmoil As Manufacturer Buckles
mdsolar writes with bad news for France and its nuclear industry. "France's nuclear industry is in turmoil after the country's main reactor manufacturer, Areva, reported a loss for 2014 of 4.8 billion euros ($5.3 billion) — more than its entire market value. The government of France, the world's most nuclear dependent country, has a 29% stake in Areva, which is among the biggest global nuclear technology companies. The loss puts its future — and that of France as a leader in nuclear technology — at risk. Energy and Environment Minister Segolene Royal said Wednesday she asked Areva and utility giant Electricite de France to work together on finding solutions, amid reports of a possible merger or other link-up. The government said in a statement that it's working closely with Areva to restructure and secure financing, and would 'take its responsibility as a shareholder' in future decisions about its direction. Areva reported Wednesday 1 billion euros in losses on three major nuclear projects in Finland and France, among other hits. Areva has lost money for years, in part linked to delays on those projects and to a global pullback from nuclear energy since the 2011 Fukushima accident."
Nuclear used to be cheap when directly connected to military money (and thus to tax money). Now it has to stand more and more on its own feet. I think it just ain't worth the hassle.
Makes me sad for the great French people who have been enticed to over-invest in this dud
Yeah, that's what they're saying over there in Fukishima. "Nuclear is cheap, but this uncertainty is killing us!"
When you begin counting the cost of nuclear, you've got to count ALL the costs. Including, as at Fukishima, basic engineering errors that ultimately cost astronomical amounts years after construction.
"Windows is like the faint smell of piss in a subway: it's there, and there's nothing you can do about it." - Charlie Br
Nuclear is not expensive, it requires an upfront investment.
And of course, you usually get the public/government to pay for the downstream costs like storage of waste and de-commissioning.
If only it wasn't for those pesky Health and Safety rules, it would be a licence to print money.
To have a right to do a thing is not at all the same as to be right in doing it