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Historic Agreement for Nuclear Energy: A New Era for EDF and French Competitiveness

🔌💡 November 2023: Historic Agreement for Nuclear Energy: New Era for EDF and French Competitiveness 💡🔌

After months of negotiations, the French government and EDF have announced a major agreement redefining the nuclear power landscape in France. The agreement, unveiled at a press conference by Bruno Le Maire, the French Minister for the Economy, sets an average selling price “of around 70 euros per megawatt-hour” for all nuclear power generation from 2026 onwards.

Public Sénat

🔗 Main Points of the Agreement :

1️⃣ End of ARENH: The current mechanism of regulated access to historical nuclear electricity (ARENH) will be abandoned by the end of 2025, paving the way for a new era of regulation.

2️⃣ Permanent protection: The new agreement guarantees permanent protection for consumers and businesses, unlike ARENH, which only covered a portion of production.

3️⃣ Threshold pricing: Incorporating a threshold taxation system, the agreement aims to cushion market fluctuations, ensuring price stability.

4️⃣ Economic Competitiveness: The agreement was designed to reconcile national economic and energy issues, ensuring both the competitiveness of French industry and EDF’s profitability.

💬 Key statements :

🎙️ Bruno Le Maire: “This agreement guarantees a price level of around €70 per megawatt-hour for nuclear electricity, laying the foundations for France’s new nuclear regulation and bringing EDF into the 21st century.”

🎙️ Luc Rémont (EDF CEO): “This is a demanding decision for EDF, but a necessary one to bring together all of our country’s economic and electrical challenges.”

🎙️ EDF’s financial objectives: With debts of 65 billion euros, EDF aims to stabilize its deficit and free up margins to finance the French nuclear program.

📊 Future prospects for EDF and energy in France :

➡️ Major investments: EDF has embarked on an ambitious nuclear program, including the construction of six new reactors at a cost of 50 billion euros, and the upgrading of existing facilities.

➡️ Balancing Competitiveness and Profitability: The agreement aims to strike a vital balance between industrial competitiveness, household stability and EDF’s profitability.

🌍⚡️ A decisive step towards competitive and sustainable nuclear energy, helping to shape a resilient energy future for France!