The economic crisis but opens the door to new opportunitiesOn the contrary he did became only more humanThis is not a technical capitalism crisisWant to mix the water and fire in General this works notThe war of the formats does not concern usThe name of the future CEO will appear on the listClearly leaving adolescence to adulthoodThe exchanges were extraordinarily rewardingSo in Ovalie all is not well in the best worldsFear of new social plansIt is a big questionThis is not the site of Flamanville but almost. During his ten-year visit - "the revision of the 10,000 kilometres", as Alain Peckre, Director - the EDF du Tricastin plant resembles a beehive. Thousand providers work during three months, 1,500 people. Menu changes in parts, the Chamber airtightness tests, x-ray of the tub all under the scrupulous eye of the nuclear safety authority (ASN). Tricastin, who turns 30 this year, is the first EDF station to take the examination to enable it to function ten years older. It has value to test for all of the Park. Since yesterday, the Constable of the nuclear gave an agreement in principle for the continuation of 30 years to 40 years in the life of the 34 reactors of 900 megawatts (MW) of the public electrician, even if he has yet to decide reactor by reactor.
The case of the France is not isolated. Last week, Madrid decided to extend the life of the Garona plant, the oldest of the country of 2 years. In Germany, the subject will be at the heart of the debates for the September elections. The Sweden has already endorsed a passage at age sixty. And other capitals, such as Brussels, wondered. The interest Compensate for a lack of anticipation for those countries which had decided to abandon the atom. Or optimize the Park to the other.
This is the case of the France, where, without waiting for the decision of the ASN, EDF has already registered for forty years its operating life. "Already, we work to bring the duration to sixty years, explains Bernard Dupraz, Director of production and engineering.". The goal is to keep open the option that does not mean that all power will go up to 60 years. "Internally, talking about 53 years on average.
The objective of EDF is to obtain an agreement in principle of the ASN between 2010 and 2011, to start its work from 2015, starting with Central Paluel. "We have not entered a technical file, yesterday placed André Claude Lacoste, the President of the Constable of nuclear power.
For the public group, the challenge is huge. 20 Years longer he will cost EUR 400 million per reactor on average, knowing that he figure the cost of construction of a PRT (who works 60 years) to EUR 4 billion. EDF estimated the net creation of value greater than 1.2 billion per, without counting the cash flows associated with the extension of operation. Patrice Lambert de Diesbach, analyst at CM - CIC, believes that the electrician can increase 30 return on its investment.
The competition looks rude
"Is this the real interest of EDF, so much more to build new power stations", he said at a conference held late June by the specialized magazine "Platts". As more that EDF might be the capacity of 1,300 MW slices to 1,400 MW. In Sweden, Vattenfall took advantage of the work of extension of life to 60 years to increase the capacity of its reactors by 23.
Public authorities are watching closely these developments. Because if EDF supports an increase in rates just to ensure the corresponding investments, consumers could apply for their share of the cake. "From our point of view, it is unlikely that it allowed EDF to keep 100 of the economic benefits of the extension of life," Morgan Stanley analysts believe.
The lengthening of the duration of operation of the existing fleet market looks therefore particularly juicy. France, EDF could invest up to EUR 24 billion. Worldwide, more than 400 are reactors that are likely to be prolonged. But the competition looks harsh. EDF has thus signed contracts of steam generators, a component heavy, with Areva, but with Mitsubishi also.
More fundamentally, the operation is double-edged sword for the sector, because extend life also means sell less than third-generation reactors, as the PRT to Areva. Especially if it extends until the arrival of the fourth generation, expected to 2040 reactors. "There is not many third generation reactors", already provides Patrice Lambert de Diesbach. As public acceptance for the extension of lifetime of a nuclear reactor has no common measure with that relating to the construction of a new plant. Even Greenpeace is for.
