The Government of France is offering to buyout minority shareholders in the heavily indebted EDF (France’s) nuclear company.
The offer to minority shareholders will be priced at 12 euros per share, meaning the operation to fully nationalize the group will cost 9.7 billion euros ($9.9 billion).
The electricity provider is currently 84-percent owned by the state, with institutional and retail investors holding 15 percent and staff one percent.
EDF’s finances have been weighed down by declining output from France’s ageing nuclear power stations, which it manages, and the state-imposed policy to sell energy at below cost to consumers in an effort to help them pay their energy bills.
EDF will need to spend about $50 billion fromnow to 2030 to extend the life and fix up existing nuclear reactors.
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5 thoughts on “France Will Spend 10 Billion Euros to Relaunch Nuclear Energy”
The French constantly restructure AREVA/Framatome/EDF – it is very hard to follow. Here in the states, when we interact with them, the only change seems to be the domain name of the email addresses. Changing the name of the company must be some quirk required by French bankruptcy court. Nothing to see here, so long as the lights stay on; French are always game for a riot.
Heavily indebted. You even provided the link. Ask why any application of nuclear eventually heads down this road. It is inevitable.
Traditional utility: costs what it costs. I don’t question why my water bill isn’t cheaper. There’s more than one comparison to be made between water flowing in pipes and current in wires. Sounds like it is run for societal benefit more than profit based on the fact that power is sold under cost per the article…
You are just ignorant. Nuclear power has always been cheap, safe, and clean, and ignorant environmentalists like you have blood all over your hands for the people who are going to die this winter because of you.
It is important to keep nuke as commercial as possible… SavannahRS MOX was an epic fail. Perhaps go back to a regulated monopolies type arrangement for baseload for this special and unique prime mover and allow quixotic endeavors like wind and storage to run their courses on the periphery. Solar is fine, so long as peakers are compensated for picking up slack caused by clouds. Peakers don’t have to be fossil burning… putting more expensive metallic fuel (lightbridge without a twist) in a subset of BWRs could allow them to swing from 30-100% power in an hour by eliminating the pellet vs. cladding interaction.
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