EDF: no further declining enrollment, provides the CEO – Express

The EDF boss, Jean-Bernard Lévy, confirmed Monday that there would be no further declining enrollment over the suppression of 3350 jobs by 2018 in France announced in January although the group’s commitment to further reduce its costs than expected. “We do not go further into the staffing cuts than what was already presented to the social partners in January,” he told Europe 1. micro

Friday, EDF has committed to reduce its operating expenses by one billion euros in 2019 compared to 2015, well above the 700 million euros already covered in 2018. “We will ensure that efforts are shared: it is normal that EDF also reduce slightly their lifestyle, so be careful in its purchasing policy further, “said Jean-Bernard Lévy.

The state, which owns nearly 85% of the electricity giant has pledged to bail out the indebted group leaded by the price of electricity at half mast in Europe and a wall ‘future investments. It will inject 3 billion euros into EDF, as part of a capital increase of projected 4 billion by the beginning of next year.

“I say yes to Hinkley Point”

Among the investments which the group is facing: the mega project controversial construction of two EPR reactors at UK, Hinkley Point, for which the CEO has sought the opinion of the central Committee (CEC). The EAC will “meet within days in the coming weeks” to make its decision on the “mature” project and “very profitable” whose “costs are perfectly controlled,” said Jean-Bernard Lévy.

While EDF would make its final investment decision on the project in early May, the Economy Minister Emmanuel Macron has announced in an interview with Sunday newspaper that this green light would occur in September. It is “an essential investment” and “I say yes to Hinkley Point,” insisted Jean-Bernard Lévy. The project raises many critics including within EDF is approximately € 23 billion, and is to be funded to a third party by its Chinese partner CGN.