The nuclear reactor manufacturing unit that French state-controlled utility EDF bought from fellow state-owned Areva will be named Framatome, Areva said in a statement on Thursday. Framatome was France’s leading nuclear reactor manufacturer before it was merged with nuclear fuel group Cogema to form Areva in 2001. Areva was split up again in a state-led restructuring after years of losses wiped out its equity.
Reuters 4th Jan 2018 read more »
New NP – the Areva NP subsidiary holding the Areva Group’s nuclear reactor operations – has been renamed Framatome following its sale to EDF, Mitsubishi Heavy Industries (MHI) and Assystem. Framatome is the name of a former French reactor vendor from which Areva was originally created. French utility EDF agreed in July 2015 to take a stake of between 51% and 75% in Areva SA’s reactor unit in a government-backed plan to revitalise the country’s nuclear power industry. The restructuring includes the government granting a capital injection of €4.5 billion ($5.4 billion) into Areva. The reactor operations to be sold, together with activities relating to fuel assemblies and services to the nuclear installed base, were transferred to a subsidiary wholly owned by Areva NP, referred to as ‘New NP’. Contracts for the Olkiluoto 3 (OL3) EPR project in Finland and for resources required to complete that project, and some contracts relating to components forged in the Le Creusot plant, are not included in the sale. Those contracts will remain within Areva. In May last year, French nuclear engineering company Assystem made an offer of €125 million for a 5% stake in New NP. In July, Japan’s MHI formally decided to take a 19.5% stake in New NP.
World Nuclear News 4th Jan 2018 read more »
[Machine translation] Nuclear: EDF forced to revise upwards its provisions for dismantling A decree revises the calculation of provisions for decommissioning and management of radioactive waste. If interest rates remain low, EDF will have to increase its provisions by several billion euros. An order published in the Official Journal of 30 December 2017 modifies the calculation of the discount rate used to fix the amount of the provisions for the decommissioning of nuclear installations and the storage of radioactive waste. Under current economic conditions, the new formula requires EDF to increase its provisions by several billion euros. Nicolas Goldberg, a consultant at Colombus Consulting, believes that “this reduction in the discount rate is one of the last tools of direct control available to the State to force EDF to better fund its dismantling costs”.
Actu Environment 4th Jan 2018 read more »