Areva warns of soaring reactor costs

[bananas]

Areva warns of soaring reactor costs

By Peggy Hollinger in Paris

Published: August 29 2008 19:00 | Last updated: August 29 2008 19:00

Areva, France’s nuclear engineering group, on Friday confirmed that the initial cost of building nuclear reactors is soaring, just as demand is rising for a more cost-effective source of power than oil and coal.

The group has taken its sixth provision in two years to cover cost overruns and delays to its new generation reactor in Finland, called OL3. Though Areva refused to quantify the provisions so far, senior management on Friday confirmed reports that the final price would be closer to €4.5bn ($6.6bn) instead of the initial €3bn estimate.

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http://www.ft.com/cms/s/0/02c548e4-75f2-11dd-99ce-0000779fd18c.html

Areva merger, capital hike plans put on ice - report
08.26.08, 4:22 AM ET

FRANKFURT (Thomson Financial) - Plans for either a merger or a capital increase regarding French group Areva have been put on ice due to problems at its Finnish prototype reactor in Olkiluoto as well as at the French Tricastin site, Sueddeutsche Zeitung reported, citing a banker who did not want to be named.

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http://www.forbes.com/afxnewslimited/feeds/afx/2008/08/26/afx5356905.html

[madokie]

1. I don't know about anyone else but I'll take my chances with the alternatives

including conservation. With a favorable executive we as a country can do anything and will.