Power Company Could Pay for Nuclear Reactor Delays

Monday, June 2, 2008

The French nuclear power company Areva could end up paying billions of euros to compensate for delays in the Olkiluoto nuclear power project.

A report in the online financial publication Capital said that Areva could pay the power generation company Teollisuuden Voima up to 2.2 billion euros. The publication based its report on information from confidential sources. Areva refutes the claims.

Areva and Teollisuuden Voima have long disputed who is to blame for the delays.

Finland's fifth nuclear reactor at the Olkiluoto power plant was supposed to be up and running by 2009, but current estimates are for operations to begin in 2011.

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