EDF UNIONS, “SCANDALIZED”, DEMAND COMPENSATION FROM THE STATE
PARIS (Reuters) – The union representatives of employees on the EDF board of directors say they are “scandalized” on Friday by the government’s announcements to limit the rise in electricity prices in France and demand that the State compensate “fully “the cost of these measures for the group.
Faced with soaring energy prices, now less than three months from the presidential election, the French government announced on Thursday an increase in the volume of nuclear electricity sold at a reduced price by EDF to its competitors, within the framework the Arenh system (regulated access to historical nuclear electricity), a measure likely to have an impact of 7.7 to 8.4 billion euros on the group’s results.
In a statement titled “The EDF Group robbed by the State on the altar of electoral promises”, the six salaried directors of EDF, whose board of directors has 18 members, say they are “scandalized that the State is organizing the looting of the EDF company on the altar of political considerations”.
“(…) we are asking the State shareholder to fully compensate the cost of the provisional support requested from EDF” to limit the rise in electricity prices, they add, judging that “obviously, EDF sells to loss” of its nuclear electricity production.
“We refuse that it is the EDF Group which assumes, alone, again and again, the market risks when it is also the only one which assumes all the industrial risks.”
(Report Benjamin Mallet, written by Bertrand Boucey)