EDF: MEPs vote on the loans needed to fund full renationalization
orange with media services, published on Tuesday, July 26, 2022 at 20:00
MEPs approved these loans by 209 votes to 156 when examining the draft amending budget for 2022. Prime Minister Élisabeth Borne had announced the government’s desire to renationalize the heavily indebted company 100%.
The National Assembly approved the state funding on Tuesday, July 26 the 100% renationalization of EDF, a €9.7 billion deal aims to break the power generation and distribution group out of its financial and industrial rut.
MEPs voted on these funds during the session Examination of the draft amending budget for 2022 with 209 votes to 156. Ecologists denounced the “everything nuclear course”, while LR regretted the decommissioning of the Fessenheim nuclear power plant.
12.7 billion euros
Overall, the assembly voted for an envelope of 12.7 billion euros possible support operations for strategic French companies during the second semester. “We are carrying out this operation in order to be completely independent” and for the “restart of the nuclear program in France” with six new EPR reactors, underlined Economy Minister Bruno Le Maire.
“That Nuclear power has suffered terribly from the abandonment industry in recent years,” he added in a noisy atmosphere. “Private investors will not come to finance the six new reactors”, “programs with insufficient profitability” and “in the long run, it is the public investors who doing that. “The best investor is,” he argued further.
Environmentalist Sabrina Sebaihi exploded the “old model of all nuclear power”, despite “half of the plants being shut down”, stand up for renewable energy. The communist Nicolas Sansu also denounced a decision “without a strategy for socializing losses and privatizing profits”.
Catching up on the “turning away from the nuclear industry”
Against this operation, the centrist Charles de Courson rated “the right decision” was rather “to increase the capital of EDF”. On the right, the leader of the LR deputies, Olivier Marleix, without opposing the measure, expressed his “regret for the ten-year abandonment of the nuclear industry”.
On the far right, RN Jean-Philippe Tanguy voted against “a blank check” in an indictment against Emmanuel Macron and called for repeating what “worked before”. a “real monopoly” of EDF. He called the National Council of Resistance. “The Rally National that claims to be CNR isn’t lacking in salt,” said Bruno Le Maire to applause.
The government already owns 84% of EDF and intends to launch a public takeover bid (OPA) that is due to end at the end of October. This The return of the state to 100% in EDF was announced on July 6th by Prime Minister Elisabeth Borne.