France, Edf returns to 100% state ownership: the announcement of the new premier Elisabeth Borne
Edf back into the hands of the state. Paris has decided to regain total control of its energy giant, renationalizing theEdf.
The reason? According to the neopremier Elisabeth Borne “France must summarize sovereignty in the sector, with an eye also to nuclear power, to face future challenges with the war in Ukraine which has highlighted all the critical issues, from gas crisis to the expensive bills that push inflation, up to the crucial strategic choices for the future also in terms of ecological transition“, he said Borne in his first speech to Parliament.
The partial privatization that, at the time of Nicolas Sarkozy, had seen the French state drop to 85% of its energy group, and will therefore be archived. An expected announcement: “I confirm you, he said Bornethe intention of the state to own the 100% of the share capital of Edf.
This evolution will allow the group to strengthen its ability to carry out ambitious and indispensable projects as soon as possible for our energy future“. A move he made soaring stocks of the French group with shares which, shortly before the close of trading, in Paris earned almost 15% to 8.98 euros (+ 14.53%).
Borne he evoked the “challenges of sovereignty”, returning to press for “a more independent Europe”, on energy and beyond. And, addressing the opposition, he launched an appeal to “build together” “compromises” to respond to economic or climatic challenges. But the appeal not only fell on deaf ears, but saw the opponents of the new Macron government, fresh from the reshuffle, rise up. Whistles rang out several times during the speech of the premier in the hall.
On the other side, however, Marine Le Pen (Rassemblement National) attacked a government considered “out of control”. In addition to the renationalisation of the EDF, Borne also spoke of the pension reform of measures to combat inflation, the decline in purchasing power and the economic risks of a country that, like many others in Europe, is struggling with effects of the Russian invasion of Ukraine.
A speech that the Le Pen he branded a “political provocation”, accusing the president of going forward as if “nothing had happened”. The reference to the legislative elections of 12 and 19 June, when the macronists lost an absolute majority in the National Assembly for the first time, is implicit.
After the announcement of the premier Elisabeth Bornethe French Ministry of Economy confirmed that the process to renationalize “rapidly” Edffirst of all by changing the current CEO, Jean-Bernard Levywhose mandate was scheduled until March 18, 2023. “While large-scale projects will be launched by the company in the coming months, the State and Jean-Bernard Levy they agreed to immediately start the process of succession of the latter at the helm of Edf “, ahead of schedule, reads a note from Bercy.
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