Nuclear Finance, Economics and Audit


 

NucAdvisor Competencies

 

 

Through their positions in the nuclear industry, NucAdvisor expert-partners were involved in several Nuclear Power Plant Projects and faced the question on how to finance these projects. The typical tasks that can be handled by NucAdvisor are:

  • Funding, financing & modelling of nuclear investments opportunities,
  • Development of economics & financing tools,
  • Forecasting project economic benefits,
  • Estimate the impact of a localization strategy,
  • Identify equity and loan resources,
  • Attracting financing resources,
  • Determine the Levelized Cost of Electricity for a specified project,
  • Marketing studies,
  • Business plans/ cost estimate development,
  • Financial risk assessment,
  • 3rd party estimation of decommissioning costs,
  • D&D cost optimization,
  • Business improvement

 

NucAdvisor Expert can also support companies specialized in M&A (Merger & Acquisition) activities or industrial companies, through the realization of due diligence market studies or technical high level consultancy services.

With a career spanning more than 40 years, all of it steeped in financial analysis, strategy and control, our Partner-Expert Dominique Vignon is best placed to support NucAdvisor clients in Finance, economic and audit arena's.

Dominique has devoted most of his career to the planning, design and construction of Nuclear Power Plants. From 1996-2002 he was the Chairman and CEO of Framatome (now Areva), he also led the EDF unit in charge of the Basic Design of the French nuclear fleet and was involved, as Technical Director of the French-German team, in the design of the European Pressurized Reactor (EPR), as such Dominique brings a wealth of experience to this topic, vital for the benefit of our clients.

Applicable Reference :
Audit of Provisions for Decommissioning of EDF Reactors in Operation

 

EDF operates 58 PWR reactors in France, many of them will have to be dismantled in the coming decades. EDF is currently facing the challenge of the dismantling of the first generation reactors and developed in 1998 a full methodology to assess the cost of the future dismantling of French PWR fleet based on one of its Dampierre PWR site.

An important update of this study was carried out in 2009, based on EDF and international return of experience in the field of dismantling acquired during the first wave of Worldwide Nuclear Power Plant dismantling. This study was used by EDF to establish the provisions needed for the whole ambitious dismantling program of French PWR fleet.

In 2012 the French Accounting Authority audited the main nuclear actors (AREVA, EDF, CEA), in particular the decommissioning provisions taken by the Industry. It agreed with the EDF methodology to calculate provisions for the dismantling of its nuclear fleet, but requested an external audit by a nuclear competent organization.

NucAdvisor, supported by a major actor in the field of financial consultancy Ricol Lasteyrie, was selected by EDF and the General Directorate for Energy and Climate (Ministry of Ecology, Sustainable Development and Energy) to carry out this audit. NucAdvisor together with its partner is analyzing the EDF full methodology based on its international experience in the dismantling field.

The conclusions of this audit are expecting in May 2015, a public non-technical report summarizing results will be published by EDF.