[Video] EPR2: €72.8 billion, a cost that must be put into perspectivePublished on 16 February 2026

The newly adopted Multi-Year Energy Programme (Programmation pluriannuelle de l’énergie, PPE) commits France to the construction of six EPR2 reactors by 2038, with a maximum estimated cost of €72.8 billion according to EDF. A striking figure, often quoted without meaningful context. Comparisons, orders of magnitude and strategic considerations: what does this investment actually represent for France’s energy transition?

Just published, the new PPE marks a major turning point. After a previous trajectory that envisaged the closure of fourteen nuclear reactors, it now formalizes the revival of nuclear power with the construction of at least six EPR2 units by 2038. The estimated cost provided by EDF, up to €72.8 billion, naturally draws attention.

As is often the case with large-scale industrial programmes, the numbers can seem overwhelming. Millions, billions… without concrete reference points, such figures remain abstract. That is precisely the purpose of the video released by the French Nuclear Energy Society (Sfen): to provide simple comparisons in order to better understand what such an investment represents.

France’s energy transition and the preservation of its electricity sovereignty require ambitious choices. At first glance, these amounts may appear considerable. Yet investment in the EPR2 programme is both strategic and essential. Its cost must be weighed against the cost of inaction.

Moreover, it is a cornerstone among other energy investments, but not just any component: nuclear energy offers up to sixty years of dispatchable, low-carbon electricity, available around the clock and at competitive cost.

Financing and Final Investment Decision (FID)

A decisive question now arises: how will this programme be financed? The Final Investment Decision (FID) is expected by the end of 2026.

In France, during the Nuclear Policy Council meeting of 17 March, the government announced a subsidised loan covering at least half of the construction costs, as well as a Contract for Difference (CfD) below €100/MWh. These measures are confirmed in the third Multi-Year Energy Programme (PPE3).

However, these commitments remain subject to approval by the European Commission under European Union state aid rules applicable to the EPR2 programme. According to EDF, the French financing plan was submitted to the Commission on 19 November 2025. The continuation of the project now depends on the decision taken in Brussels. ■