French energy group Électricité de France (EDF) has announced a significant increase in the projected cost of its programme to construct six new nuclear reactors, now estimated at €72.8 billion ($85.29 billion) based on 2020 values. The figure marks a sharp rise from the initial estimate of €52 billion ($60.89 billion) when the project was first unveiled.
The programme, aimed at bolstering France’s nuclear capacity, was initiated following President Emmanuel Macron’s 2022 announcement supporting a new generation of EPR2-type reactors. These six units are expected to deliver approximately 10 gigawatts of installed capacity, partially replacing ageing plants and ensuring long-term power supply security.
Standardisation strategy to reduce costs
EDF plans to control expenses through a serial construction approach. According to Xavier Gruz, Executive Director in charge of new nuclear projects, standardising the build process could reduce unit costs by 30% by the time the sixth reactor is completed. This strategy aims to leverage accumulated expertise and streamline timelines and technical processes.
The utility will receive a subsidised loan to finance around 60% of the total investment. Repayment will be managed via contracts for difference, a mechanism that guarantees a minimum selling price for the electricity generated.
Final investment decision expected by late 2026
The final investment decision is expected by the end of 2026, Xavier Gruz stated during a media briefing. The project remains subject to regulatory stages, including licensing procedures and public consultations.
France currently generates about 70% of its electricity from nuclear energy, making the sector a strategic component of its energy mix. Expanding the nuclear fleet is also intended to support national energy sovereignty amid an evolving energy landscape and volatile global markets.
