Monday 7 February, a Memorandum of Understanding was to be submitted to the Board of Directors of the electricity supplier, while Emmanuel Macron is expected in Belfort three days later.
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It’s not yet a good and due redemption, but we get close to it. On Monday, February 7, a Memorandum of Understanding should be submitted to the Board of Directors of EDF – initially scheduled on Friday, February 4 – for the purchase of General Electric’s nuclear activity. The STEAM POWER EN Entity comes from the sale by Alstom, in 2014, from its energy branch to the American group, a very controversial assignment supported by Emmanuel Macron, then Minister of the Economy. The actual signature should take place six to eight months later. Manufactured in Belfort, Arabelle steam turbines, which equip nuclear power plants, will then return to French control.
Integration for several months, the negotiations have accelerated in recent weeks with the coming in France, during January, from Larry Culp, GE CEO for a tripartite interview with Bruno the Mayor, Minister of the Economy, and Jean -Bernard Lévy, CEO of EDF.
On February 4th, Mr. Lévy made a point on the file at a central social and economic committee (CSEC). “He did not denied the imminence of an ad, but he did not validate the redemption in a formal manner,” says Virginie Neumayer, CGT Trade Union Representative at the Energy Supplier and member of the Committee of the Nuclear sector.
Economic alert right
This redemption must be made public Thursday, February 10 by the President of the Republic during a trip to Belfort. The file is eminently political. Two months of the presidential election, this announcement should coincide little or forever with its official enrollment in a campaign for a second term.
At EDF, the CSEC focused on the right of economic alert triggered by the social partners with regard to the financial situation of the company, weakened by the displaction of regulated access to historical nuclear power ( Arenh), decided by the government so as not to increase the electricity bill of the French. “We filed 188 requests, details the unionist. Management has until February 18 to bring his answers.” With this procedure, “he is asked to expose his strategic orientations, to play cards on table.”
It is unknown to date the perimeter of the redemption, but it will exclude coal-related activity, EDF having refocused on nuclear power and renewable energies. Among the most thorny topics that it had to be addressed are that of the intellectual properties and the fate of the activity, with high added value, superconductors, which enter the manufacture of wind turbines by GE in Saint-Nazaire. According to the ECHOS, the value of the assets sold would be the billion dollars (873 million euros). However, EDF only pays $ 273 million thanks to its available cash flow.
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