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France intends to fully nationalise energy utility EDF

Prime Minister Elisabeth Borne announced on Wednesday that France will fully nationalise EDF. This will give the government more control over the restructuring of the indebted company while dealing with the European energy crisis.


One of Europe’s largest utilities, EDF, in which the state already owns 84 percent, is at the centre of a French nuclear strategy that the government is relying on to mitigate the effects of skyrocketing energy prices made worse by the potential for a sudden stoppage of Russian gas supplies.


However, due to years of delays on new nuclear reactors in France and Britain, along with financial overruns in the billions of euros, it has instead turned into a significant headache for the government.


As she outlined the aims of her minority government in the lower chamber of parliament, Borne declared, ‘I confirm to you now that the state intends to control 100% of EDF’s capital.’


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