France's EDF raises maximum cost estimate for six reactors to 72.8 billion euros

PARIS, ‌Dec 18 (Reuters) - France's state-owned utility EDF said ‍on Thursday ‌that building six new nuclear reactors will cost ⁠it a maximum of ‌72.8 billion euros ($85.29 billion), based on 2020 values, higher than the previous estimate of 52 billion euros when ⁠plans for the new fleet were first announced.

Macron announced plans ​in early 2022 for six new reactors ‌with a total ⁠production capacity of about 10 gigawatts to partly replace old plants and also secure future energy ​supplies. France generates about 70% of its electricity from nuclear power.

EDF is aiming to lower its costs by building the reactors in series, ​bringing ‍costs down by ​about 30% by the time it completes the last one, Xavier Gruz, executive director in charge of the new projects, told journalists on a briefing.

EDF will receive a subsidized loan to cover about ⁠60% of construction costs, with contracts for difference on the power ​generated used to reimburse the loan. 

A final investment decision on the project will be made by the end of 2026, said ‌Gruz.

($1 = 0.8536 euros)

(Reporting by Dominique Patton and Inti Landauro; Editing by Benoit Van Overstraeten and Louise Heavens)