The Court of Auditors unveils a critical report on French nuclear power, highlighting the additional costs of the Flamanville EPR construction site and the financial and organizational challenges linked to the EPR2 program.
Nuclear costs are exploding
The latest report from the Court of Auditors sheds harsh light on the French nuclear industry, of which EDF is the main player. The Flamanville EPR site, which entered service in December twelve years late, saw its cost increase from 3.3 billion euros in 2007 to 23.7 billion in 2023. This dizzying increase can be explained by delays, technical adjustments and inflation. The Court underlines that to achieve a profitability of 4%, the megawatt hour produced would have to sell at 122 euros, well beyond the target price of 70 euros planned from 2025.
This cost inflation is not isolated. The six EPR2 reactors planned to modernize the French nuclear fleet are also affected. Estimated at 79.9 billion euros in 2023, the program represents an increase of 30% compared to initial forecasts. EDF hopes to reduce costs through experience and mass production, but challenges remain numerous. The Court recommends securing funding and refining design studies before any final decision, scheduled for 2026 at the earliest.
An uncertain future for the sector
The Court of Auditors also warns of the risks weighing on the entire French nuclear sector. The lack of a firm decision regarding the EPR2 program is hampering industrial commitments and threatening the training of future technicians and engineers. EDF, for its part, continues to work on optimizing processes, while advocating for export prospects, considered crucial for the competitiveness of the sector.
International projects, although strategic, are not spared from criticism. The Court considers that EDF should avoid any risky commitments abroad until the French program is stabilized. As an example, she cites the British Sizewell C project, where EDF has been the main financier since the withdrawal of its partners. Added to this is the mixed results of the Finnish Olkiluoto EPR, whose final cost quadrupled compared to initial forecasts.
-For EDF, these challenges underline the need for a clear vision and strong support from the state shareholder. But the Court warns: if additional costs and delays persist, the EPR2 program could permanently compromise the competitiveness of the French nuclear industry.
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