The French government plans to take full control of EDF

The French government has unveiled a plan to fully nationalise EDF, the world largest producer of carbon-free electricity, for which the State already owns 84% of its shares. The company's capital was opened to private investors via the sale of 15% in 2005. In February 2022, France unveiled its energy strategy to 2030, including a recovery plan for nuclear power in the country. As part of the plan, France is expected to build 6 new next-generation EPRs (European Pressured Reactors II) and to launch studies for the construction of 8 additional EPRs as well as SMRs (Small Modular Reactors) to reach 25 GW of new nuclear capacity by 2050.

The company's financial situation deteriorated after the French government forced EDF in January 2022 to sell an additional 20 TWh of nuclear power generation under the ARENH to alternative suppliers at €46.2/MWh to limit the rise in electricity tariffs. However, EDF posted a net income (group share) of €5.1bn in 2021 (x 8 compared to 2020) and its electricity generation increased by 4.3% to 524 TWh (after a 10% decline in 2020), of which 78% of nuclear (361 TWh). In the United Kingdom, EDF generated 41.7 TWh (-8.8%). EDF Renewables' output increased by 10.4% to 17 TWh. The group also produced 27.5 TWh of heat (+5.4%). EDF's consolidated capacity declined by 3.2 GW in 2021 to 117.3 GW at the end of the year, with 70 GW of nuclear (-1.1 GW with the shutdown of Dungeness and Hunterston B nuclear reactors in the United Kingdom), 31 GW of renewables, 14 GW of gas and fuel oil and 2.2 GW of coal. The company had 7.9 GW of renewable projects under construction at the end of 2021 and 76 GW at different stages of development.