Electricite de France (EU:EDF)
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2 Months : From Nov 2019 to Jan 2020
By Giulia Petroni
Electricite de France SA (EDF.FR) on Friday presented a plan to improve the standards of the French nuclear-industrial sector.
The state-controlled French utility said the plan, called "Excell," will be initiated in 2020 and have a budget of 100 million euros ($111.3 million) for the 2020-21 period.
EDF will appoint a senior officer, who will report directly to EDF's Chairman and Chief Executive Jean-Bernard Levy, to oversee manufacturing standards, training and qualification.
Excell comes at a time when EDF has been dealing with a series of shortcomings at the Flamanville nuclear power plant. In October, Jean-Martin Folz released an audit report, saying the construction of a third-generation European Pressurized Water reactor in Flamville should be considered "a failure of EDF."
"The excell plan is expected to lay the groundwork for a renewal of confidence in France's nuclear industry, as well as to address the challenges described in Jean-Martin Folz's report," said Mr. Levy.
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(END) Dow Jones Newswires
December 13, 2019 05:24 ET (10:24 GMT)
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