PARIS — French annual EDF’s plan to restructure itself will be delayed for at atomic a few months as it awaits a broader ameliorate of ability regulations, the arch of state-owned ability accumulation said in a letter apparent on Friday.
EDF was accepted to present close proposals for the overhaul, accepted as “Project Hercules,” by the end of year afterwards a appeal by President Emmanuel Macron.
The planned restructuring of the heavily-indebted group, which could absorb agreeable itself in two and ambience the nuclear ability bearing business to one side, has already sparked able action from EDF workers, sparking strikes.
In a letter to top aggregation managers apparent by Reuters, EDF CEO Jean-Bernard Levy said authoritative ameliorate was capital afore the aggregation reorganized itself, altering the agenda for presenting the proposals.
“A about-face afterwards bigger adjustment would not be abundant to accord EDF the banking agency to comedy its role in the investments all-important for the success of (France’s) activity transition,” Levy said.
He said altitude were not yet in abode for the reform, which charge be discussed with the admission controlling of the European Commission and the French government, and that the bearings would be antiseptic aural a few months.
The Commission, which regulates accompaniment aid and antagonism in the European Union, had ahead accustomed the ability bazaar apparatus through which rivals admission about a division of EDF’s anniversary nuclear output, at 42 euros per megawatt hour (MW), in a arrangement aimed at giving them fair admission to nuclear energy.
EDF operates France’s 58 nuclear reactors that annual for over 75% of its electricity needs.
“The new agenda on the restructuring will of advance depend on the timing of the authoritative reform,” Levy wrote.
“This description is actually essential, additionally because the acknowledged and banking elements of the new adjustment will abundantly action my proposals on the restructuring,” he said.
EDF unions accept said the company’s restructuring would put France’s activity aegis in accident and amount jobs.
They accept threatened added strikes if the government does not abjure the restructuring plan by Oct. 10, afterwards added than a third of EDF’s French workforce absolved out aftermost month.
A agent for one of the capital unions, the CGT, said on Friday that they captivated affairs with the government and EDF’s management, and there was no adumbration the government would bead the plan.
The French admiral and abridgement admiral had no actual comment. (Bate Felix and Benoit Van Overstraeten Editing by Sarah White and Deepa Babington)
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