A first speech since the announcement by the government of the launch of the process of his succession.
The energy company EDF must remain a “unique” group, EDF CEO Jean-Bernard Lévy said on Monday, in response to fears from the unions, who fear that the announced renationalization of the group is the prelude to a future dismantling. . “All the interlocutors with whom I discuss have in mind that we must keep a single EDF, (…) in the interest of the performance of the French energy and electricity system”declared Jean-Bernard Lévy, on BFM-Business, speaking for the first time since the announcement by the government of the launch of the process of his succession.
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“We must tell all French people that our country is lucky to have a formidable energy company called EDF”declared Jean-Bernard Lévy, enthused by the fact that the group “can do everything”citing nuclear power, hydraulics, renewable energies. “Who can think for a moment that we will have an EDF without renewables, what a utopia!”exclaimed the leader, who will not however be in charge of the reorganization of EDF, the government having deemed it preferable to anticipate the departure of Jean-Bernard Lévy, whose mandate was to end no later than March 18 2023, due to the age limit provided by the group’s statutes.
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In the previous five-year term, for some 18 months, the unions of the incumbent operator fought against a reorganization project, called Hercules, supposed to provide resources by putting EDF’s activities related to renewables on the stock market and improving the remuneration of the nuclear, but which the unions saw as a dismantling. The project was eventually abandoned due to disagreements with the European Commission over maintaining the group’s unity, and also due to the approach of the French elections.
Early succession
Jean-Bernard Lévy on Monday refuted the vision of the unions: Hercules, “It was a group in which we gave our renewable subsidiary, of which we retained absolute control, with at least 70% of the capital, the means through the stock market to find additional capital to accelerate”, did he declare. Jean-Bernard Lévy confirmed that he was on the same wavelength as the State, with regard to his anticipated succession.
“I myself went to see the State and told them “there is going to be a very major reform of EDF which will last approximately the duration of the five-year term” and I happen to be 68 years old in March next year»he said. “With the State we have built a solution, which is, from the current period, to launch the process leading to my replacement”added Mr. Lévy, considering “It’s normal that there is a driver who ensures this reform over time and it can’t be me given my age”.