France wants to nationalise energy company EDF again

France wants to nationalise energy company EDF again
EDF's Belgian subsidiary Luminus' logo. Credit: Belga / Nicolas Maeterlinck

The French government wants to regain 100% ownership of the energy group EDF.

Prime Minister Elisabeth Borne announced the new measure on Wednesday afternoon. Borne told the French Parliament that the re-nationalisation would strengthen the company’s ability to carry out ambitious projects “indispensable for our energy future”.

By Wednesday afternoon, Borne had not given more details on the nationalisation proposal. Particularly, whether it would be done via special legislation or through a buyout of minority shareholders.

According to Reuters, shares in the EDF group were down 5% before the announcement but rose as much as 9% just after it.

The option of fully nationalising EDF was flagged by President Emmanuel Macron earlier this year, as he plans to make the company the main pillar of a massive investment in new nuclear reactors.

The government currently owns 84% of EDF. The French company is also active in Belgium through its subsidiary Luminus.

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