Question 25926 — energy and fuels

Summary

Ms. Émilie Cariou questions the Minister of the Economy and Finance on the EDF company's development project through the “Hercules” plan. A little more than 20 years after the first packages of European directives imposing new competition rules on energy companies, the EDF company is today considering a new organization aimed at separating EDF into two entities, a blue EDF, and a green EDF. If this organization is retained, the return of a blue EDF, under public ownership, cannot be done without an inventory and complete transparency on the financial situation of EDF. However, EDF is facing many challenges today such as the repayment of its loans, the financing of the Hinkley Point EPR (the cost of this EPR, initially estimated at around 22 billion euros, increased by 1.6 billion pounds in 2017, i.e. an investment of 3.7 billion euros per year, including 2.47 billion per year for EDF, which must finance 66.5% of the project) and Flamanville (the overall cost of the EPR is now almost 13 billion euros, much higher than the initial forecast), the doubling of the power exploited by renewable energies from 28 to 50 GW by 2030, the installation of smart meters, maintenance and network operation, major overhaul work as well as dismantling expenses, for which feedback from abroad has shown that French estimates were far below what is done, particularly in Germany. In its July 2019 report on the back end of the nuclear cycle, the Court of Auditors also recalled the urgency of updating the financial estimate of the CIGEO project which varies from 25 to 40 or even more than 70 billion euros according to certain estimates. In the same way, the Court recalls the urgency of reassessing the relevance of certain industrial strategies such as fuel recycling. Thus, before any evolution of the EDF company towards the public sector, it seems unthinkable not to carry out an exhaustive assessment of its situation, the situation of such a company could have repercussions on public finances and therefore the French. So, she asks whether there are plans to update the financial assessments of the various issues facing the EDF company and when.

Machine translation from French. The official text remains authoritative.

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