New French nuclear power: Bruno Le Maire puts pressure on EDF

This Monday, Bruno Le Maire, the Minister of the Economy attended the EDF Executive Committee, as he himself announced at the beginning of March. The minister was then annoyed by a possible surge in the cost of building the six new EPR 2 nuclear reactors. “EDF must learn to keep its costs and its schedule,” he declared. This Monday, the tone was intended to be more consensual. “We have undertaken the largest industrial project in Europe for several decades with the construction of 6 new nuclear reactors. We want this new major project to be a success,” Bruno Le Maire soberly commented after the meeting.

It was the first time that the minister took part in the exercise, while the State is the sole shareholder of the electrician since its nationalization completed in June 2023. For the government EDF is not a company like the others, it is above all an economic policy tool. It faces challenges and structuring projects for the economic future of the country, with the extension of the lifespan of the existing fleet and the announced construction of EPR 2. The minister will probably attend other meetings in this format to share with all EDF managers. “EDF must mobilize all the human and technical resources necessary to carry out this industrial project within the set costs and deadlines. I provide all my support to the management and employees of EDF in carrying out this program. I will follow its project implementation very regularly with Joël Barre, interministerial delegate for new nuclear power. »

The meeting was the occasion for a long discussion between EDF managers and the minister on how the company is transforming itself to meet the costs and deadlines of this major program. The group set up a construction department, which existed for the first major French nuclear program and which had since disappeared. The subject of the maturity of the design of the reactors of the future was also discussed at length. It appears that it is not yet sufficiently mature for construction to begin. Experience has shown that putting the cart before the horse on a nuclear site does not save time. The delays at the Flamanville EPR prove it.

However, the detailed design should also make it possible to set the schedule for carrying out the program and therefore its cost. We will probably have to wait at least until the fall for more details on these subjects. Furthermore, the company's commercial policy and the implementation of post-Arehn regulation with the marketing of long-term contracts by EDF were also discussed. For the moment, large companies are reluctant to commit, even though they consider the post-2025 electricity prices proposed by EDF to be too high compared to current markets. “EDF is committed to renegotiating the contracts of VSEs, SMEs, and ETIs which were signed when prices were at their highest. This is vital for these companies. EDF is implementing it,” added the minister. Luc Rémont, CEO of EDF, announced these renegotiations during the publication of his group's annual results in mid-February.