I'll help you build coal if you help me build nukes, they said.

[kristopher]

INTERVIEW: EDF CFO: No Provisions After Constellation Deal

PARIS (Dow Jones)-- The $250 million agreement between French state-controlled power behemoth Electricite de France SA (EDF.FR) and U.S.-based energy group Constellation Energy Group (CEG) restructuring their nuclear partnership won't lead to any potential provisions ...

...EDF and Constellation said they agreed to end a joint venture to develop nuclear power plants after the relationship soured in recent months.

...Also, EDF will transfer to Constellation 3.5 million of the shares worth about $110 million and will relinquish its seat on the Constellation board. Constellation will terminate its rights under an existing put option under which EDF would have been required to buy 12 power plants--most of them coal-fired--from Constellation for as much as $2 billion.

http://online.wsj.com/article/BT-CO-20101027-703038.html

The deal seems to have been one where Constellation would help French company EDF get US loan guarantees and subsidies to build a new nuclear plant. In return, EDF would buy up to a dozen new coal plants from COnstellation.

Constellation looked at the economics and IN SPITE of the 80% loan guarantees AND the ability to recoup the other 20% plus any cost overruns from ratepayers, Constellation thought the deal was too financially risky and walked away.

Now it looks like EDF will not be buying the coal plants.

That is what you call a win - win for the people of the planet.

[Systematic Chaos]

1. I'll help you cut if you help me paste, quoth the kea.

Fixed!

[kristopher]

2. Shouldn't you be making another bogus chart about something?