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Claim for Olkiluoto 3 delays explodes to 2.7 billion

The French nuclear contractor Areva has ratcheted up its compensation claim by 100 million euros for delays in the delivery of the Olkiluoto 3 nuclear reactor in western Finland. Areva is now calling on Finnish plant operator Teollisuuden Voima (TVO) to fork out 2.7 billion euros.

Arevan logo.
French nuclear plant contractor Areva has lodged a new and higher claim for compensation against Finnish operator Teollisuuden Voima. Image: Daniel Karmann / EPA

In the latest round of claim and counterclaim surrounding the ill-fated Olkiluoto 3 reactor, the French nuclear reactor now wants its customer Teollisuuden Voima or TVO to hand over 2.7 billion euros – up from 2.6 billion -- in compensation, citing an error in its previous claim.

Each party has blamed the other for the ongoing delays in completion of the reactor, which was originally scheduled to begin commercial production in 2010 but TVO will now have to wait until 2016 to commission the plant.

TVO has also filed for compensation from Areva, with its latest claim in October 2012 reaching 1.8 billion euros. The claims are being adjudicated in the International Court of Arbitration.

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