French energy utility EDF is considering a new strategy for dismantling its ageing first-generation UNGG ("uranium naturel graphite-gaz") nuclear reactors in France, modifying the method and pace of dismantling and related scenarios. This would concern reactors at Saint-Laurent-des Eaux, Chinon and Bugey.
EDF would dismantle all reactor-related installations in the next fifteen years and would complete the entire dismantling of a reactor before starting dismantling the others, to benefit from feedbacks. This would delay the dismantling of some reactors by several decades.
The French energy regulator Autorité de Sûreté Nucléaire (ASN) has requested EDF to present a detailed programme for the next 15-year period and will review this new strategy. The new strategy will be presented in the coming weeks.
EDF is facing financial difficulties in a context of falling wholesale power prices in Europe and significant delays and cost overruns in the construction of two EPR projects in Europe, Olkiluoto 3 (built by Areva), and Flamanville in France. The group has to fund its 66.5% stake in the £18bn (€24.5bn) Hinkley Point C nuclear project in the United Kingdom and the €2.5bn acquisition of Areva NP. In addition, EDF will need to invest at least €55bn to refurbish its existing nuclear fleet in France to operate beyond 40 years ("Grand Carénage" programme). In April 2016, the group approved a €4bn capital raising (that includes €3bn from the French State) to improve its finances before going ahead with the Hinkley Point C project.
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