SWith an absolute majority in the National Assembly, can Emmanuel Macron launch the reform of EDF, which is as imperative as it is urgent? Burdened with a debt of 43 billion euros, sick from the aging of its nuclear power plants, weakened by the exorbitant demands of Brussels and the decisions of the State to reduce the electricity bill of the French, the energy giant lives a dark year. But at the Palais-Bourbon, neither the Nupes nor the National Rally are willing to compromise.
EDF’s status as a public company is at stake, as are certain laws, which should not “to touch only with a trembling hand”, according to Montesquieu’s formula. In 2006, the privatization of Gaz de France, prior to its marriage to Suez, gave rise to a memorable parliamentary battle. The reorganization of EDF, which imposes certain legislative changes, risks being just as much, while the European Commission remains vigilant about the obligation imposed on the group to resell to its competitors (and at low prices) part of its nuclear production.
« And rrisk of a forms of status quo »
A first project, called Hercules, failed in 2021, due to persistent disagreements with Brussels (on regulation) and the unanimous opposition of the unions. It provided for the total nationalization of nuclear activity (EDF Bleu), and the opening of EDF Vert (Enedis, renewable energies, marketing) to private investors. Favorable to this scheme proposed by the CEO, Jean-Bernard Lévy, the President of the Republic hoped to relaunch a fairly close reform after the legislative elections.
Supporting EDF and nuclear power makes sense when the drop in gas deliveries from Russia threatens Europe’s energy security. And Emmanuel Macron can hope for the support of the sixty-four deputies of the Les Républicains-UDI group, supporters of nuclear power and open to the entry of private capital into certain activities. Today they show a refusal of any agreement with the elected Macronists, even if the policy of the worst – leaving EDF in an untenable situation – will undoubtedly impose compromises on them.
“The real risk is to leave EDF in a form of status quo”, worries Sébastien Michel, secretary of the Chemistry-Energy Federation of the CFDT. Mr. Lévy is also impatient, even if he will not be able to carry out this reform, reaching the age limit of 68 in March 2023. The State Participation Agency will launch headhunters to find a successor, a man or woman sufficiently driven by the spirit of public service to accept 450,000 euros a year – a modest salary for such a strategic company.