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France to reduce reliance on nuclear energy, may boost stake in EDF

Nov. 27, 2018 3:59 PM ETElectricité de France S.A. (ECIFF) StockECIFF, ECIFYBy: Carl Surran, SA News Editor
  • France is considering restructuring state-owned utility Electricite de France (OTCPK:ECIFF, OTCPK:ECIFY) and plans to steadily reduce the country’s share of nuclear in its power mix to 50% by 2035 from 75% currently, Pres. Macron says.
  • Macron’s plan is broadly in line with EDF’s desire not to close any reactors before 2029, besides the previously scheduled closure of Fessenheim’s two reactors near the German border; another two will be shut down during 2027-28 and two more could face closure as early as 2025-26.
  • Macron does not mention a possible EDF restructuring but the government reportedly will consider raising its current 83.7% stake and ask the utility to propose alterations to its corporate structure, which will need to preserve the integrity of the firm and allocate adequate financing for each activity.

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