September 19, 2017 / 10:49 AM / a year ago

France's EDF will defend its business position in energy sector review

PARIS (Reuters) - French state-controlled power group EDF (EDF.PA) said on Tuesday that it aimed to defend its business interests as the government looks to review how the country sources its energy.

The logo of France's state-owned electricity company EDF is seen on the company's headquarters in Paris, France, November 24, 2016. REUTERS/Charles Platiau

In July, environment minister Nicolas Hulot said France could close as many as 17 reactors by 2025 as it seeks to reduce the share of nuclear power in its electricity mix.

The government is due to clarify its position on the matter by the end of 2018, and EDF’s CEO Jean-Bernard Levy said EDF would set out its stall to defend its business plan, including its plans to upgrade various nuclear power sites.

“I am convinced that the French state will look to reconcile the various interests concerning the electricity system, regulation, the changes in the energy industry and its own interests as a stakeholder of EDF,” Levy told reporters at a briefing in Paris.

France, a net power exporter in Europe, relies on 58 nuclear reactors run by EDF for three-quarters of its electricity.

However, it could face a second winter of tight power supply as nuclear reactors undergo a review of hundreds of components and increased scrutiny demanded by the country’s watchdog.

Reporting by Benjamin Mallet; Writing by Sudip Kar-Gupta; Editing by Adrian Croft

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