TVO: We don't know when Olkiluoto 3 will be ready

[bananas]

Source: Yle

A French-built nuclear reactor on Finland's west coast was originally scheduled to begin operations in 2009 -- but there is still no clear end in sight.

The utility company TVO says it cannot give an estimate of when the long-delayed Olkiluoto 3 nuclear power reactor will begin operations. TVO has been waiting for information about the completion process from French contractor Areva for two months.

<snip>

“We’ve asked the contractor for a timetable estimate, and have been waiting for it since the beginning of the year,” TVO communications director Pasi Tuohimaa told Yle. “As long as we don’t get that, we can’t make a precise estimate of OL3’s completion schedule.”

Areva has not informed TVO about why the estimate has been delayed.

Costs nearly triple

The entire project was originally to have been completed by 2009. Construction began in 2005, but a year ago TVO said it was "preparing for the possibility" that OL3 might not go online until 2016. Meanwhile the budget has ballooned from three to at least 8.5 billion euros.

<snip>

On Thursday, Areva shares plunged by more than 14 percent after it reported a net loss for the third year running.

Read more: http://yle.fi/uutiset/tvo_we_dont_know_when_olkiluoto_3_will_be_ready/7111614

[AtheistCrusader]

1. Welp, that's expensive.

costs tripled? Someone should be in court.

[bananas]

2. Areva shares plunge after loss, problems in Finland

http://www.globalpost.com/dispatch/news/afp/140227/areva-shares-plunge-after-loss-problems-finland

Areva shares plunge after loss, problems in Finland
Agence France-Presse February 27, 2014 1:17am

Shares in French nuclear power group Areva plunged by 10.21 percent in early trading on Thursday, after the company reported a net loss for the third year running.

The price of Areva shares was being quoted at 19.61 euros. Meanwhile the overall French market as measured by the CAC 40 index was up 0.10 percent.

In a results statement late on Wednesday, Areva revealed that it had taken heavy charges for its deeply troubled contract to build a new-generation EPR nuclear reactor in Finland.

The group also warned that sales this year would suffer from persistent problems for the nuclear energy market.

<snip>

[pragmatic_dem]

3. deleted dup

[pragmatic_dem]

4. these plants are so complicated and expensive with no one else able to take over

if things go bad, companies have every incentive to delay completion.

What are municipalities going to do? Fire them?

Even if another contractor could compete the work, the cost impact and risks would be even higher.

When you build nuke you are stuck with the contractor for life and that means a very small number of companies.

As Fukushima shows, the total costs of ownership are never part of the equation.

[jtuck004]

5. Y'all might check the Fukushima Yard Sale. I think it's still going on... n/t