After the electricity measures, EDF is demanding 8.34 billion euros from the state
The measure is intended to limit the rise in electricity bills, but there is no unanimity. EDF on Tuesday 9 August demanded €8.34 billion in compensation from the state after the government decided to allocate additional amounts of cheap nuclear power to its competitors. “EDF filed a lawsuit with the Council of State today, estimating a claim for damages from the state totaling €8.34 billion to date.”its largest shareholder, the group said in a statement.
To curb the promised increase in regulated electricity tariffs to 4% in 2022, the government has forced EDF to increase the annual quota of electricity it sells at a reduced price to its competitors by 20%, 120 terawatt hours (TWh), by comparison to 100 TWh. This sale is part of the mechanism called “Regulated Access to Historical Nuclear Energy” (Arenh), which is regularly denounced by EDF. The group is therefore forced to sell its production at a bargain price while electricity peaks on the wholesale markets.
Following that decision, EDF had warned of a slump in its financial results in 2022, attributing this in particular to the Arenh cap increase. The state’s decision was formalized in a decree on March 11, then in two decrees.
EDF said on Tuesday that its approach is based on it “a thorough legal analysis” and “Given the damage suffered” under these texts. “EDF’s Chairman and Chief Executive Officer had indicated during its AGM that it had previously submitted an administrative complaint to the State seeking the reversal of the March 2022 decree and orders relating to this allocation. [de volumes nucléaires supplémentaires] »the group remembers.
Jean-Bernard Lévy, whose state now wants to speed up the succession as part of the planned renationalization of EDF, announced an appeal in May. “Both the price and the terms of these awards place us at a significant disadvantage”he argued.