French government opens audit investigation of EDF’s foreign dealings.

FT: “EDF has become embroiled in a controversy over its industrial ties with China, sparking renewed speculation about the future of the company’s chief executive, Henri Proglio.” “…Mr Proglio won an initial stay of execution from the Hollande government after pointing to reasonable success in cutting debt and improving the performance of EDF’s 58 French reactors. However, the company has been forced in recent months to embark on a heavy cost-cutting plan, including reductions to capital spending as debt has spiralled again. …The audit body is planning to examine a proposed 2011 deal between EDF and CGNPC to share nuclear expertise, which was blocked by the French prime minister because it excluded Areva, the French reactor maker. It could also look at a recent tripartite deal between EDF, Areva and China to explore the development of a new 1,000-megawatt reactor.”
JL: Every time I read one of these seemingly incessant setbacks for the French nuclear industry, I wonder what it would take to finally make the UK government give up on its dogged illusion of a nuclear renaissance.
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