EDF Plans to Build Nuclear Reactors Faster

In a recent presentation of its financial results, French energy utility EDF's CEO Luc Rémont outlined an ambitious target to reduce the construction time for new nuclear reactors to 70 months, or approximately six years. This goal represents a significant decrease from the previously estimated nine years for the first reactor and seven and a half years for the last in a planned series of six to fourteen reactors by 2035-2040. Despite a slight reduction in its €54 billion debt, EDF faces concerns over falling electricity prices, which could impact long-term revenue and investment plans. The proposed construction timeline is notably shorter than the current pace of nuclear reactor development in France, which has been criticized for lagging behind the rapid construction rates seen in China. Recent Chinese reactors have been completed in five to seven years, aided by more flexible labor laws and a well-established reactor design. While Rémont's 70-month target is seen as ambitious, the nuclear sector has responded positively, with industry leaders like Valérie Faudon emphasizing that faster construction could enhance competitiveness. Currently, EDF is engaged in the construction of two EPR-type reactors at Hinkley Point, expected to take 11 to 13 years to complete. Additionally, the company is facing delays with a single reactor at Flamanville, raising questions about its ability to meet the new construction timeline. As EDF navigates these challenges, the future of Europe’s largest energy company hangs in the balance, with significant implications for its nuclear ambitions.