By announcing that she wanted to renationalise EDF, Elisabeth Borne shook the French energy giant.

Determined to launch the project as soon as possible, the Ministry of the Economy announced on Thursday to launch "from now on the succession process" of the CEO of EDF Jean-Bernard Lévy, whose mandate should end no later than March 18. 2023. "The new Chairman and CEO of EDF may be appointed before this deadline so that the new manager is quickly able to implement the strategic and industrial projects announced by the President of the Republic", specifies the press release.

Taking 100% control of EDF gives us every chance of strengthening our energy independence in the years to come.

It's a strategic decision, it's a strong decision and it's a necessary decision for the country.

#Europe1 pic.twitter.com/eApYYwo0Gm

– Bruno Le Maire (@BrunoLeMaire) July 7, 2022


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“I hope that the new direction of EDF will be operational from the next school year”, indicated on Europe 1 the Minister of the Economy Bruno Le Maire.

“To nationalize EDF is to give us every chance of being more independent in the years to come in terms of energy.

It is a strong and necessary strategic decision for the country,” added the Minister, as the program to build six EPR 2 nuclear reactors is soon to be launched.

Debts and the still-awaited Flamanville EPR

Seventeen years after the opening of its capital and its IPO at the end of 2005, the electrician remains largely public, owned by the State at nearly 84%, by employees who own 1% and by institutional shareholders. and individuals for the remaining 15%.

But the group is heavily indebted and faced with heavy financial burdens, present and future.

The energy company has suffered setbacks, particularly in the construction of its new reactor model, the EPR being installed in Flamanville, which is more than ten years late and whose cost has almost quadrupled.

Its financial situation has also deteriorated with the government's decision to force it to sell more cheap electricity to its competitors, to contain the electricity bill of households and small professionals.

In a separate press release, EDF's board of directors indicated that it had "taken note of the joint decision" of the State and its CEO concerning this early replacement.

“In accordance with the applicable provisions, this appointment will be the subject of a proposal from the board of directors to the State”, specify the directors in their press release.

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  • Economy

  • EDF

  • Economy Minister

  • Bruno the Mayor

  • Elisabeth Borne

  • ERP