A third generation EPR nuclear reactor being built in Finland by French-German consortium Areva-Siemens will likely be delayed once again, to 2014 from 2013, Finnish power company Teollisuuden Voima (TVO) said Wednesday.

"Based on the latest progress information submitted by the plant supplier Areva-Siemens, (TVO) estimates that the start of regular operation of the Olkiluoto 3 nuclear power plant unit may be postponed until 2014," it said in a brief statement.

The third generation European Pressurised Reactor (EPR) called OL3, is being built at TVO's power plant on the western coast of Finland but the project is already years late and reportedly billions of euros (dollars) over budget.

When the project was launched in 2005, the reactor was supposed to be producing electricity by 2009 but the deadline has been pushed back repeatedly.

TVO said Areva-Siemens was responsible for keeping to the schedule.