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Electricity prices: an agreement “in the coming hours” between the State and EDF, promises Bruno Le Maire

Soon an agreement.

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Electricity prices: an agreement “in the coming hours” between the State and EDF, promises Bruno Le Maire

Soon an agreement. The negotiation between the State and EDF on electricity prices “is about to be concluded in the coming hours”, indicated this Monday the Minister of the Economy Bruno Le Maire, during the first congress of the Grouping of hotels and restaurants of France (GHR). Engaged for months in sometimes tense discussions, EDF and the State must develop the new model for regulating electricity prices, as the current mechanism approaches the end of 2025.

The government wants the new electricity reference price to be close to EDF's nuclear production costs. The Energy Regulatory Commission (CRE) recently assessed these costs at 60 euros per MWh, an estimate much lower than that of EDF (around 70 euros). “I am convinced that the result we will achieve with the president of EDF Luc Rémont is a good result”, “which allows us to regain sovereignty over our prices”, declared the minister to the members of this employers' union.

“We no longer want the entirety of electricity prices to depend on the cost of the gas plant which was opened as a last resort in eastern Europe,” he assured. “We are regaining sovereignty over our prices because we are providing long-term visibility on electricity prices, to prevent you, consumers, individuals or businesses, from being exposed to a new electricity crisis” , he added. “We will give you visibility and duration.”

“This agreement must guarantee that electricity prices are our prices, prices which depend on our production costs, nuclear electricity or renewable energies, this will be the case”, in order to “guarantee our competitiveness” , he continued. “Our sovereignty is also our national company, in this balance, we must obviously ensure that these electricity prices allow EDF to generate profits to invest in renewable energies or in new nuclear reactors”, according to The Minister. “We wanted to find this balance between attractive prices, competitive prices and prices which allow EDF to create room for maneuver to invest in the future, this will be the case,” the minister further assured.

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