Macron believes that the state is over-invested in energy, advocating for open capital RTE – The Point

The Economy Minister Emmanuel Macron judge Tuesday in an interview Le Figaro that the State shareholder is over-invested in energy, advocating the opening of RTE capital in order to give some leeway to its parent company EDF.

Asked about a possible weakening of EDF, which contributes to the rescue of the French nuclear group, Mr. Macron believes that “to achieve its future investments, the company must generate new financial flexibility”.

He feels so “that an ambitious industrial project that offers visibility to EDF and its employees can be drawn for RTE “, citing” an opening of the capital to the latter “, which could be involved” investors and network infrastructure, such as the Caisse of Deposits “.

EDF must resume including Areva reactors division as part of a rescue plan with a massive bailout (€ 5 billion) conducted by the state, which controls two groups.

The electricity giant also needs to renovate its nuclear fleet to extend its life and “do it under heavy stress with today’s very low electricity prices” said Mr. Macron.

The Minister also sought reassurance about the British project of EDF, which is to build the Hinkley Point nuclear power plant, which requires heavy investment.

“As a shareholder, we believe at this stage that it does not run the risk of indiscriminate industrial business and financial plan,” according to Macron.

” As with any project, there are risks; EDF must take the necessary steps to control, “he says.

More generally, Mr. Macron returned to the position of the State shareholder, which was often at the last maneuver months and saw its stock portfolio suffer from falling markets.

“The problem of state ownership today is being over-invested in certain sectors, and in the energy in particular, “he said.

” We have to question the relevance of our detention levels, undertaken by business, “he said, to immediately clarify that” the current share price does not allow to carry out divestments that would respect our heritage interests. “

However, it has not closed the door on disposals, referring to the last operations in aerospace and defense.

As for Renault, the capital of which he was strengthened last year with a promise to sell the shares acquired, Mr. Macron indicates that the state will sell the “4 7% extra (…) when market conditions will be consistent with the economic interests of the state “

02/02/2016 10:01:02 p.m.. – Paris (AFP) – © 2016 AFP