French power group EDF and nuclear reactor maker Areva said they would take extra provisions totaling 1.05 billion euros ($1.15 billion) after the government hiked its estimate for the cost of a nuclear waste storage project. The companies said the energy ministry had on Friday set the cost of the Cigeo project for the long-term management of high-level radioactive waste at 25 billion euros, above the companies’ own estimate of 20.8 billion euros. EDF said on Friday this would lead to an increase of 800 million euros in its provisions for the project in its 2015 accounts, with an impact of around 500 million euros on full-year net income.
Reuters 15th Jan 2016 read more »
EDF plans to cut at least 4,000 positions over three years without layoffs, or 5.8% of the workforce of EDF SA, said Friday union sources. These reductions, between 2016 and 2018, more than double deletions initially announced by the electrician.
Le Progress 15th Jan 2016 read more »
Nothing better illustrates the inability of the French state to see the future as the EDF case soon, the group can no longer guarantee an independent French electricity and inexpensive. At the risk of losing one of our competitive advantages. EDF can no longer guarantee an independent French electricity and inexpensive from 2030. confusion of objectives, recklessly long time, politician blindness, the French state, that is to say his government and his administration is in the process of removing the country which was one of its major assets since the 1980 La France, who likes to debate endlessly the principles which it is based, lets make a radical transformation of conditions the exercise of these principles. Nothing illustrates this new failure of the French state to see the future and build on this alarming decline, the loss of energy independence looming.
Les Echos 15th Jan 2016 read more »