The editorial of Le Figaro: “EDF, state bankruptcy”

Jacques-Olivier Martin. Le Figaro

By Jacques-Olivier Martin, editor-in-chief of Figaro Economy.

Stock market blackout for EDF! In a few weeks, the nuclear giant will leave the Paris Stock Exchange. Elisabeth Borne announced it on behalf of “our sovereignty in the face of the consequences of the war and the colossal challenges ahead”. In 2005, Dominique de Villepin, then Prime Minister, boasted of partial privatization to finance future investments and allow the French to be co-owners of their favorite company… Today a little bit private, tomorrow again 100% public, EDF has always been at the mercy of governments who have done with it what they wanted, according to considerations often more political than industrial or energy.

The state is indeed rarely a good strategist and almost always a bad shareholder. Conflicts of interest are permanent. In the name of sound management of public funds, he is concerned with inflating profits and dividends. But, as the protector of citizens, his priority is to curb electricity price hikes…

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