French Prime Minister Elisabeth Borne announced Wednesday in her public policy address that France wants to re-nationalize EDF 100%.
“Today, I assure you of the state’s intention to own 100% of the capital of EDF. This development will enable the institution to enhance its ability to implement ambitious and necessary projects for our energy-related future as soon as possible,” she said before the National Assembly.
Today, the French state owns approximately 84% of the electricity corporation, the employees own 1%, and the founding shareholders and individuals own 15%. The heavily indebted group is facing huge financial burdens and is facing a challenge from the French government to launch a new nuclear reactor programme.
“The energy transition is going through nuclear,” Bourne said Wednesday, emphasizing the position adopted by President Emmanuel Macron this winter.
Shares of EDF rose on the Paris Stock Exchange on Wednesday after Bourne’s announcement.
At around 15:45, the stock increased by 5.56% to 8.28 euros, in a market that rose by 1.86%. Prior to the speech, the stock price had fallen sharply by 5%.
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