According to the head of the French Nuclear Safety Authority, Electricite de France SA (EDF) – the largest generator of nuclear power in the world, is unable to keep up with maintenance needs at aging nuclear reactors in its fleet. The state-controlled EDF operates 58 nuclear reactors at 20 nuclear facilities and nearly 85% of its electrical production comes from nuclear energy.
After the Fukushima Daiichi nuclear disaster, EDF was forced to conduct repairs and safety improvements at its nuclear power stations, but according to Pierre-Franck Chevet, head of the Nuclear Safety Authority in France, “There are delays and complications and some could affect safety.”
EDF has estimated that it will need to spend at least $71 billion to improve safety at its nuclear power plants before 2025.
EDF shares have fallen as much as 4.2% since June 19th.