A company in crisis
Currently, the French state has an 84% stake in EDF’s capitalwhich carries a liability of 43,000 million euros, at a time when it faces the challenge of commissioning six new nuclear reactors from 2035, with an estimated cost of at less 52,000 million euros.
It should be added that the Macron government estimated other 50,000 million additional euroswhich will be necessary to keep the current atomic park in service, made up of 58 reactors that normally generate 70% of France’s electricity.
The generation of electricity in France is located in a much lower percentage, due to the stoppage of many of the reactors, due to maintenance work and detected failures.
energy transition
The prime minister insisted that “the energy transition goes through nuclear energy” which “It is a decarbonised, sovereign and competitive energy”. Along these lines, he insisted that the Macron government has two objectives: to control electricity production and “guarantee our sovereignty” against the effects of the Russian invasion of Ukraine.
In his presentation, Borne made it clear that France “cannot continue to depend on Russian oil and gas”. The official had made progress last September in defining these objectives, key to the generation of French energy resources. Among those items is the reduction of carbon emissions by sectors and territories and “being the first great ecological nation that will abandon fossil fuels,” she said.
The announcement of the increase in the State’s stake to 100% had a sudden impact on EDF’s listing on the Paris Stock Exchange. In a few minutes, the shares of said company, which had been trading down since the opening of the session in the morning even below 7.3 euros, jumped and went up about 8% to about 8 .6 euros.
Source: Ambito
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