French state has no plans to break up EDF -finance ministry source

PARIS, Nov 14 (Reuters) – The French state does not plan to break up nuclear power group EDF (EDF.PA) after its nationalization is completed, a Finance Ministry source said on Monday, refuting allegations from a lawmaker that such a plan was in the works.

Socialist lawmaker Philippe Brun said last week he had seen internal Finance Ministry notes suggesting President Emmanuel Macron’s government planned to sell off EDF’s renewable energy activities.

“Our intention is not to take control of EDF only to dismantle it afterwards,” the Finance Ministry source told journalists, reiterating the government’s long-standing position.

The source added that the state’s intention was to maintain EDF as an integrated group with its renewable activities, and said that it may be possible to avoid opening EDF’s hydropower operations up to competition as demanded in the past by EU competition authorities after the group’s nationalisation.

Reporting by Leigh Thomas; Editing by Susan Fenton

Our Standards: The Thomson Reuters Trust Principles.

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