How this works:

The accumulating costs above are based on the EUR 1.7 billion overrun announced by Areva/TVO plus an extra EUR 1.2 billion which will be needed to purchase electricity that has not been produced by Olkiluoto-3 since its projected start.

These costs will eventually be paid for by Nordic electricity consumers and French taxpayers, either through higher bills for customers or through taxes.

The financing of Areva’s EPR programme isn’t going well at all. It needs ‘between eight and 10 billion euros by 2012 to fund its investment programme’ and a desperate French government are putting parts of the company up for sale.

Related posts: EPR: Enfant Terrible of the French Nuclear Industry