The Limited Times

Now you can see non-English news...

The government will “ensure” that EDF price cuts are passed on to suppliers

2022-01-21T17:45:05.094Z

EDF will sell at a reduced price up to 40% of its electricity production in 2022 and lose around eight billion on its gross operating surplus.



We will keep an eye on the grain

” regarding the repercussion of the reduction in EDF electricity prices by suppliers, announced in recent days in the midst of soaring energy prices, said Friday the Minister of Economy and Finances Bruno Le Maire.

We will make sure that the suppliers pass on all of the price reductions to the end consumer,

” the minister pledged when asked about Public Sénat.

Read alsoThe executive accuses EDF of loading the boat with its losses

Bruno Le Maire added that he would "

personally ensure that the repercussion of the drop in prices is complete

" so that "

in the process the suppliers do not fill their pockets

". In the midst of soaring energy prices, the government announced in mid-January that it would force EDF to sell more electricity at low prices to its competitors in order to protect the purchasing power of the French.

EDF will thus sell at a reduced price up to 40% of its electricity production in 2022, instead of selling at high market prices, and lose around eight billion on its 2022 gross operating surplus, according to the group.

EDF's CSE Central launched an economic alert procedure on Thursday following these announcements, arguing its fierce opposition to these measures likely to harm its financial health.

Read alsoFear of a series anomaly on existing reactors in the EDF fleet

The Energy Regulatory Commission (CRE), responsible for monitoring EDF's sale of low-cost electricity to its competitors, said it would denounce any "

undue rent

" from suppliers.

Traveling Friday to Loon-Plage (North), the Minister of Industry, Agnès Pannier-Runacher, assured that there was "

no question

" of "

weakening

" EDF.

The State alongside EDF

EDF's main shareholder is the state.

So it is the regulatory state that takes its responsibilities and defends the French people, their jobs and their purchasing power.

And the State shareholder will take its responsibilities and will be at EDF's side to ensure that EDF gets through this period and can strengthen its situation

", she said after a visit to the Aluminum Dunkirk plant, the largest aluminum refinery in Europe.

Read alsoThe shutdown of nuclear reactors makes EDF waver

"

There is obviously no question of weakening a tool which is strategic today, which is our tool for producing electricity, which ensures our economic sovereignty, our independence and our competitiveness

", she added. . “

In our role as shareholder we will be alongside EDF employees, there is no ambiguity

,” insisted the minister during this symbolic trip.

Rising energy costs have forced Aluminum Dunkerque to gradually close tanks since early December, with 31 of them now shut down out of 264, according to its president Guillaume de Goÿs.

He estimates that "

more than thirty million euros

" the shortfall in December and the beginning of January.

Read alsoElectricity prices: EDF in the storm after the government's decision

Three months before the presidential election, the issue of energy price inflation is explosive for the government.

Without intervention to force EDF to supply electricity at lower prices, 150 French companies could have closed due to soaring prices, and 45,000 jobs would have been threatened, the Ministry of Industry estimated on Thursday.

Source: lefigaro

All news articles on 2022-01-21

You may like

Business 2022-03-14T10:43:15.564Z
News/Politics 2022-03-28T16:29:38.562Z

Trends 24h

Latest

© Communities 2019 - Privacy