EDF Renegotiates Energy Contracts with Small Businesses Amidst France’s Energy Crisis; Government Urges Nuclear Program Completion

EDF commits to renegotiating contracts with certain companies over “unjustly high” electricity rates

Bruno Le Maire, the French Minister of Energy, has called on EDF to renegotiate contracts signed with small and medium-sized companies during the energy crisis. The group has committed to renegotiating contracts that were signed at the highest prices, which is crucial for the companies involved. This commitment was confirmed by Le Maire after participating in the EDF executive committee, marking the first time a minister has done so since the group was completely nationalized in June 2023.

The Confederation of French Traders (CDF) has raised concerns about the pricing conditions of companies locked into long-term electricity contracts signed at peak prices during the 2022 energy price surge. These contracts are now considered unfair due to the significant drop in energy prices since then. Professional organizations like CDF, Group of Hotels and Restaurants of France (GHR), and Union of Hotel Trades and Industries (UMIH) have urged the government to intervene and facilitate negotiations with electricity suppliers to adjust pricing.

According to CDF, many small businesses are paying extremely high electricity prices compared to current market rates, despite the drop in energy prices. The minister has also called on EDF to mobilize resources to ensure the successful completion of its new nuclear reactor program. This program involves constructing six new nuclear reactors and is considered one of Europe’s largest industrial projects. The priorities set for EDF include extending the lifespan of existing power plants, increasing electricity production, and implementing a nuclear recovery program with new EPR2 type reactors.

Sophia Reynolds

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