Audit raps French energy giant EDF over nuclear project

An official report rapped French energy giant EDF on the knuckles Monday for lacking a "culture of quality," as reflected in huge delays and price overruns at a nuclear plant it has been building for more than a decade. The report was presented to EDF's largest shareholder, the French government, which called for an urgent "plan of action" to improve standards at the company and get the much-needed plant online.

The delays at the Flamanville site in northern France come on top of a massive cost overrun at the Hinkley Point nuclear project EDF is building in Britain and a decade-long delay to the Olkiluoto plant in Finland. EDF's European Pressurised Reactor (EPR) reactor in Flamanville is now seven years late and costs have more than tripled to 12.4 billion euros ($13.7 billion). Earlier this month, the company said fixing faulty welding on the Flamanville reactor will add 1.5 billion euros ($1.6 billion) to the already swollen price tag.