The Gallic state already owns 83.8% of the company’s capital, the key in the face of the crisis with Russia
The French government plans to buy 100 percent of the share capital of the electricity company EDF, as confirmed by the French Prime Minister, Élisabeth Borne, during a speech at the National Assembly. “I confirm today that the state intends to control 100 percent of EDF’s capital,” Borne said, setting out the priorities of the government, which currently controls 83.88% of the electricity company’s capital.
During his re-election campaign last March, French President Emmanuel Macron had championed the company’s nationalization to bolster French energy independence and its zero-emission ambition through the construction of new nuclear power plants.
“We will be the first major ecological nation to move away from fossil fuels,” said the French Prime Minister, for whom the climate emergency requires strong and radical decisions. We need to be in full control of manufacturing and our energy future, Borne added, stressing that the pandemic has shown an excessive reliance on foreign industries. “We can no longer depend on Russian oil and gas,” he added.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
