EDF net income takes a dive due to U.S. reactor project

Electricite de France, the French national utility that holds a 50% share in Unistar in the U.S. along with Constellation Energy, saw its net income plummet 47% this past week. The EDF-Constellation partnership is slated to build an EPR reactor at the Calvert Cliffs nuclear site in Maryland - conditional upon federal loan guarantees. But according to a Bloomberg story, EDF "took a provision of 1.1 billion euros (1.44 billion euros) related to its holding in Constellation Energy Group Inc. due to the “less favorable” outlook for power prices for existing power generators and a planned new nuclear reactor at Calvert Cliffs."  EDF is already under scrutiny in France because its EPR construction site at Flamanville is over-budget and has fallen more than two years behind schedule.