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“Scandalous” EDF unions demand compensation from the state

Employees union representatives on the EDF board said they were “horrified” on Friday by the government’s announcements to curb the rise in electricity prices in France and to demand the state for “full” compensation for the cost of these measures to the group. .

In the face of rising energy prices, less than three months after the presidential election, the French government announced on Thursday an increase in the volume of nuclear electricity sold at a reduced price by the EDF to its rivals, under the Arenh (Regulated Access to Historic Nuclear Electricity) system, a measure of potential To have an impact of 7.7 to 8.4 billion euros on the group’s results.

Defective Nuclear Reactors, Marked Prices, EPR Delay: EDF, Planetary Misalignment

In a statement titled “The State Steals EDF Group on the Altar of Election Promises,” the six paying directors of EDF, whose board of directors includes 18 members, said they were “amazed that the state is orchestrating the looting of an EDF corporation on the altar of political considerations.”

“(…) We are asking the government contributor to fully compensate the cost of the temporary support required by the EDF” to curb the rise in electricity prices, they add, arguing that “it is clear that the EDF is selling at a loss” for nuclear electricity. Produce.

“We refuse to be the EDF Group that alone, time and time again, bears market risk when it is also the only company that bears all of the industrial risks.”

The big drop in EDF stock once again raises the question of its place in the stock market

Some nuclear reactors shutdown

In addition, EDF has extended shutdowns of some of its nuclear reactors, where corrosion problems have been identified, and in some cases the shutdown will continue until the end of the year, the group said Friday. Reactor No. 2 at the Schuse (Ardennes) power plant is now scheduled to restart on December 31, according to the data posted by the group on its website. At the beginning of January, his detention was already extended until April 20. The two reactors at Seafox (Vienne) are expected to restart on August 31 for the first reactor and December 31 for the second reactor.

Corrosion problems have been identified in a safety circuit for these three reactors. The same problems have since been discovered at one of those of the Penly Power Plant (Seine-Maritime), which has a lower power. And so Penly 1 has been discontinued until May 30. Investigations are continuing to determine whether Schuse’s No. 1 reactor has also been affected. It should restart on July 27, as the EDF just announced, not on February 11 as it has been expected so far.

Currently, out of the 56 reactors in the French nuclear fleet, five have been closed due to corrosion problems that have been identified or suspected of being in a safety circuit, as well as many of them have been closed for other reasons.

These five reactors alone account for approximately 12% of France’s nuclear capacity. This led the EDF to revise its nuclear production forecast downward Thursday evening. The unplanned shutdowns add a bit more tension to the security of electricity supply this winter in France, when fleet availability is already low with a total of 10 reactors shut down.

The question now arises about possible additional stops due to wear problems.

(with Reuters and AFP)