Elisabeth Borne announces that the State wants to renationalize 100% EDF

This was one of Elisabeth Borne's strong and surprising announcements.

Elisabeth Borne announces that the State wants to renationalize 100% EDF

This was one of Elisabeth Borne's strong and surprising announcements. Prime Minister Elisabeth Borne stated that the State intends to own 100% of EDF's capital during her Wednesday, July 6th policy speech. This decision is intended to restore "full and complete control over our electricity production and its performance".

Before the members of parliament, the head of government stated that this development would allow EDF to increase its ability to execute ambitious and vital projects for our energy future. France held 84% of the capital of the company up to now.

EDF shares surged on the Paris Stock Exchange after this announcement. In a market that was up 1.86%, the title fell 5.56% to 8.28 Euros at 3:45 p.m. The price dropped sharply by 5% before the speech.

Already heavily indebted, the EDF group is now facing significant financial burdens and is being challenged by government officials to start a new nuclear reactor program.

Elisabeth Borne insisted that "the energy transition happens through nuclear," taking over the presidency of President Emmanuel Macron this winter.

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