nationalisation

The perilous state of French utility giant EDF

France

Last month, the French government announced it will re-nationalise utility giant EDF which, also last month, has reported historic first-half losses in 2022 of 5.3 billion euros. EDF’s financial woes are exacerbated by the unprecedented shut-downs due to repairs and maintenance of more than half its fleet of 56 nuclear reactors, and the government’s cap on electricity price rises. Martine Orange reports on the background to what is the most perilous situation the company has known in its 76 years of existence.

France to pay 10 billion euros to nationalise energy giant EDF

France — Link

French state already owns 84% of EDF, which has been dogged by unplanned outages at its nuclear fleet, delays and cost overruns in building new reactors, and power tariff caps imposed by the government to shield households from soaring electricity prices.

Steel reprieve comes at price for France's Hollande

France — Link

Stand-off over steel giant ArcelorMittal's plant has unnerved investors, confused unions and exposed his new government to ridicule.