The maintenance of the EDF fleet will exceed 100 billion euros by 2035.

French utility EDF will need to invest over 100 billion euros ($116 billion) from 2014 to 2035 to extend the lifespan of its 57 nuclear reactors by up to 60 years, according to a report from the French Court of Auditors.

EDF must manage these expenses alongside the costs of constructing six new generation (EPR2) reactors, with a final cost estimate due by the end of the year and a final investment decision anticipated in the latter half of 2026.

The court noted that the renovations should benefit the French electricity system and could be profitable for EDF if production forecasts are achieved. The renovation costs are also expected to remain competitive with the EPR2 construction program, which aims to replace reactors that won’t meet the extension requirements.

EDF chose not to comment.

The company anticipates producing between 350 and 370 terawatt hours of electricity in 2026 and 2027, an increase from recent years following extensive maintenance in 2022. New CEO Bernard Fontana has expressed a goal of returning the fleet to producing 400 TWh by 2030.

France's nuclear fleet contributes approximately 70% of the country's power production, helping to keep its electricity prices lower than those of neighbors like Germany and Britain, which heavily rely on gas-fired power plants.