The French government plans to fully nationalize the debt-laden Électricité de France, the sixth largest publicly traded company in France and operator of the 56-unit French nuclear reactor fleet. Currently, EDF is 84 percent state owned.
Macron
As part of its drive for carbon neutrality by 2050, France will build at least six new nuclear reactors in the coming decades, according to a February 10 article from Reuters. "What our country needs, and the conditions are there, is the rebirth of France's nuclear industry," French president Emmanuel Macron said as he announced France’s new nuclear strategy.
Macron also said that he wanted to extend the life spans of France’s existing nuclear plants.
The price tag: The six new plants would be built and operated by state-controlled energy provider EDF, which has estimated the cost of those plants total at about 50 billion euros (about $57 billion), depending on financing conditions, according to the article.
The first new reactor, an evolution of the European Pressurized Reactor (EPR), would come on line by 2035, Macron said. The article added that the country would embark on a study to determine whether a further eight reactors beyond the initial six would be needed.
Macron
In a televised address Tuesday evening, French president Emmanuel Macron announced his government’s intention to build new large nuclear reactors in France to address growing energy and environmental challenges.
“If we want to pay for our energy at reasonable rates and not depend on foreign countries, we must both continue to save energy and invest in the production of carbon-free energy on our soil,” said Macron. “This is why, to guarantee France’s energy independence, to guarantee our country’s electricity supply, and to reach our goals—notably carbon neutrality in 2050—we will for the first time in decades revive the construction of nuclear reactors in our country and continue to develop renewable energy. These investments will allow us to live up to our commitments. As we close COP26 in Glasgow, this is a strong message from France.”