Summary
France’s Flamanville 3 nuclear reactor, its most powerful at 1,600 MW, was connected to the grid on December 21 after 17 years of construction plagued by delays and budget overruns.
The European Pressurized Reactor (EPR), designed to boost nuclear energy post-Chernobyl, is 12 years behind schedule and cost €13.2 billion, quadruple initial estimates.
President Macron hailed the launch as a key step for low-carbon energy and energy security.
Nuclear power, which supplies 60% of France’s electricity, is central to Macron’s plan for a “nuclear renaissance.”
4 times budget sounds more than it is. You have to underbid to actually get contracts for construction and then it also depends on what was actually missing in the specification.
Big projects are never on budget because the budget is just an arbitrary number of lowballing the best case estimate
Also any project that takes longer than the initial estimate will be overbudget, not only because you are paying local workers for longer (fairly good for the economy) but simply because inflation has happened more since the project started.
Yeah, also financing cost for equipment and material sitting around which usually comes as a cost to the contractor.
… but we make decisions about economic viability on that basis??