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France plans to nationalize EDF, its power company

France's Prime Minister Elisabeth Borne announced that the Government of France plans to control one hundred percent of EDF's share capital during a speech at the National Assembly.

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France plans to nationalize EDF, its power company

France's Prime Minister Elisabeth Borne announced that the Government of France plans to control one hundred percent of EDF's share capital during a speech at the National Assembly. Borne stated, "I confirm today, that the State intends control one hundred percent the capital EDF," revealing the priorities of the government, which currently controls 83.88%.

During his campaign for re-election, Emmanuel Macron, the French President, had defended nationalization of the company in order to strengthen France's energy independence and achieve its goal of zero emissions by the construction of new nuclear power plants.

The French prime minister said that "We will become the first great ecological nation" to eliminate fossil fuels. He also stressed the need for strong and radical decisions in light of the urgent climate crisis. Borne said that we must have full control over production and our future energy, pointing out that the pandemic had shown an excessive dependence on foreign industries. She said, "We cannot depend on Russian oil or gas."

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