上外英语专业考研试题NEXTweekHenriProgliowillbecomethebossofEDFGroup,thestate-controlledFrenchfirmwhichistheworld’sbiggest1utilityandoperatorofnuclearreactors.Withitsproudcorporateculture,its2tolong-termplanninganditspowerfulunions(theConfédérationGénéraleduTravailjointlyrunsthefirm,ineffect),EDFissometimesdescribedasaminiature3ofFranceitself.Lastyearitbegana4campaigntobuildnuclearplantsaroundtheworld.Buttothedismayofadvocatesofanuclearrenaissance,thecostandcomplexityofembarkingonseveralbigprojectsatonceisweighingonthefirm,despiteitssizeandgovernmentbacking.EDFhaslongexporteditsnuclear-Dauntingwitherapprovalsourcedealcurrentlybidseekcontainstirserviceabandonmaintenanceunderminelistcutdevotionunderlyvigorousnegligibleversionexpansionprofitbehaveoperatecriticaffordchasewhatscheduleenergyexpertise,butearnedonlyadvisoryfeesforitsefforts.IthelpedbuildChina’snuclearfleet,forexample,forafewmillioneuros.Now,asgrowthathomeslows,itwantstomakebigger5bybuildingand6nuclearplantsofitsownabroad.Afterall,itisoneofveryfewutilitiesthatcan7tobuildseveralreactorsbyitself,withoutsharingtheriskwithpartnersorgovernments.AndinanindustrywhichatrophiedafteraccidentsatThreeMileIslandinAmericaandChernobylin8isnowUkraine,ithasrelativelyextensiverecentexperienceofbuildingandoperatingmodernnuclearplants.EvenforEDF,however,thecostsare9.In2008itboughtBritishEnergy,autilitywhichownseightnuclearplants,for£12.5billion($22.5billion).EarlierthisDauntingwitherapprovalsourcedealcurrentlybidseekcontainstirserviceabandonmaintenanceunderminelistcutdevotionunderlyvigorousnegligibleversionexpansionprofitbehaveoperatecriticaffordchasewhatscheduleDauntingwitherapprovalsourcedealcurrentlymonth,afteralongwaitforregulatory10,itconcludeda11tobuyhalfofthenuclearassetsofConstellationEnergy,anAmericanutility,for$4.5billion.Ontopoftheseacquisitionsitplanstobuild11newreactors(fourinBritain,fourinAmerica,twoinChinaandoneinFrance).ItalsowantstobuildfourplantsinItalyandis12tobuildseveralintheUnitedArabEmirates,aspartofaconsortiuminbothplaces.Theseinvestmentswillstretchthefirm’sbalance-sheet.Debtnowstandsat€37billion($53billion)andcouldriseto€65billionby2017-18,accordingtoareportfromHSBC,abank.Tohelp13itsdebt,thefirmplanstomakedisposalsworth€5billionbytheendof2010.EDFisalsofacingoperationaltroubles.FrancehashadtoimportlargebidseekcontainstirserviceabandonmaintenanceunderminelistcutdevotionunderlyvigorousnegligibleversionexpansionprofitbehaveoperatecriticaffordchasewhatscheduleDauntingwitherapprovalsourcedealcurrentlybidseekcontainstirserviceabandonmaintenanceunderminelistcutdevotionunderlyvigorousnegligibleversionquantitiesofelectricitythisyearbecausealmostathirdofitsnuclearplantswentoutof14atsomepoint,eitherbecauseofstrikesorfor15.France’sgridoperatorrecentlywarnedthatthecountrycouldevensufferpower16thiswinter.One17cause,saysSofiaSavvantidouofCitigroup,aninvestmentbank,ismanyyearsofunderinvestment.Aswellasspendingmoreoneverydaymaintenance,EDFwillneedtoinvesttoextendthelifeofitsFrenchreactorsfrom40to60years.Afewyearsagoitthoughtthecostwouldbe18,butnowitreckonsitwillneedtospend€400moneachplant.Accordingtooneadviser,theproblemswithEDF’sfleetthisyearshowtherehasbeen“toomuchattentiongiventofinancinginternational19andnotexpansionprofitbehaveoperatecriticaffordchasewhatscheduleDauntingwitherapprovalsourcedealcurrentlybid...
