the State wants to renationalise EDF 100%

Prime Minister Élisabeth Borne announced the government’s desire to fully renationalise EDF on Wednesday July 6. Who owns the capital of the group ? “It is already the State which is in the majority at 84%, then the shareholders at 15%, and finally the employees at 1%”declares the journalist Gilles Papin, this Wednesday, on the set of 23h of franceinfo. “The cost of this nationalization is estimated between 5 and 7 billion euros”he says.

Debt estimated at 43 billion euros

“But the state will recover a group that is in great difficulty and heavily indebted”, says the journalist. EDF sold 40% of its electricity production at a reduced price to apply the tariff shield decided by the government. Covid-19 also interrupted the maintenance program for nuclear power plants: 12 out of 56 reactors had to be closed. In total, in 2022, EDF’s debt is estimated at 43 billion euros. “The state had no choice but to take over the entire group to avoid bankruptcy”, explains Gilles Papin. France also wants to have full control of its electricity production.