Electricite de France : EDF Adjusts Cost Estimate for Grand Carenage Program

By Giulia Petroni

Electricite de France SA said Thursday that it has adjusted the estimated cost of its Grand Carenage program to extend nuclear reactors' life.

The French energy company said the program's cost now amounts to 49.4 billion euros ($58.03 billion) from a previously estimated investment of EUR45 billion in 2015, which today corresponds to EUR48.2 billion.

The new cost estimate takes into account the first findings on the work that has to be conducted and the expected increase in the duration of planned maintenance outages, EDF said. It also factors in the impact of the health crisis between 2020 and 2022.

The Grand Carenage program is designed to extend the service life of the company's nuclear fleet while enhancing reactor safety. The program runs from 2014 to 2025.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

10-29-20 0430ET