The employee shareholders and former employees of EDF have announced their intention to file a complaint against the State for its decisions concerning the energy company and their "spoiling" consequences for the shareholders, on the eve of the announcement of the government's plan to renationalise the group at 100%.

“The Energie en actions association (…) announces that it is filing a criminal complaint with a civil action against the State as the majority shareholder of EDF for putting the company in difficulty in disregard of the social interest of that -ci and the interests of its minority shareholders, due to reckless and despoiling decisions”, indicates this association in a press release.

Several grievances

The association's main grievance, "the sale, at a price below production costs, to competitors of at least a quarter of EDF's nuclear electricity production (100 TWh), according to the so-called Arenh mechanism (Regulated access to historical nuclear electricity), set up in 2010 to avoid prosecution by the European Commission, under the Nome law, reforming the electricity market in France.

This mechanism allows EDF to sell a quarter of the electricity produced by its nuclear power plants to its competitors, the idea being to allow new energy suppliers to benefit from the low production costs of the French nuclear fleet.

Suspended from the Stock Exchange

The association also points to the shutdown "for purely political reasons" of the two reactors at the Fessenheim power plant in Alsace.

"Today the State must be accountable for the management exercised as ultra-majority shareholder of the company, management which has the consequence of seriously despoiling a very large number of savers", concludes the association, which judges that the State "treats EDF as a simple tool of its policies to the point of putting it in great difficulty, in flagrant illegality".

The title of EDF was suspended last Wednesday on the Paris Stock Exchange, the time to allow the State to specify, at the latest Tuesday before the opening of the Paris Stock Exchange, the terms of the renationalization of the energy company announced in early July.

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