Friday, July 22, 2011

French Nuke Socialism: 50% Cost Overrun

Owned by the French government, EDF announced a second delay for the operation of the Flamanville 1600 megawatt nuclear plant and now a 50% cost overrun.

Flamanville was supposed to begin operations in 2012 and cost 4 billion euros. Last July EDF said the plant would begin operations in 2014 and cost 5 billion euros

Now EDF says it will operate in 2016 and cost 6 billion euros or $8.5 billion.

France and Georgia are both examples of how governments must build nuclear plants and socialize the costs.

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