Le Monde | • Updated | By
The EDF officials are not back yet. “This is amazing,” says one. “Surreal” judge another. “Apocalyptic” chokes third. In case, the compensation offered by the state to the company to compensate the early closure of the nuclear plant of Fessenheim (Haut-Rhin).
In a letter early May to CEO of EDF Jean-Bernard Lévy, and so far remained confidential, the Minister of environment and energy, Segolene Royal, ahead for the first time an amount that could be paid to public. Depending on the selected scenarios, it evokes a range between 80 to 100 million euros, indicate four sources familiar with the matter.
A disproportionate amount with those raised since François Hollande promised during the 2012 presidential campaign, to stop Fessenheim, the oldest nuclear power plant in France, in service since 1977. in a report submitted to the national Assembly in September 2014, MPs Marc Goua (Socialist Party) and Hervé Mariton (Republicans) had, in the first analysis, estimated at 4 billion possible compensation for EDF. This assessment was then vigorously contested by M me Royal. It was in her “wacky calculations (…) launched in nature to try to influence decisions”
Read also.: Holland will he keep his promise to close nuclear power plants?
The dual role of the State
Some experts had then mentioned an envelope from 2.5 billion to 3 billion euros. This corresponds roughly to the hopes EDF executives. “They had never given figure, but had forecast at least 2 billion euros,” estimated a familiar group.
A 80 or 100 million euros the amount put on the table by the State appears 20 to 50 times less than these various encryptions, which caused some stunning to EDF headquarters, avenue de Wagram in Paris. This is of course a deliberately set very low starting point by the state, that is here not as a majority shareholder of EDF, but as public authorities, anxious not to widen the budget deficit. It shows, however, that negotiations just started with the state will be hard.
Mr. Levy is preparing to respond to M me Royal, acknowledging receipt of the letter and propose a meeting. But beyond these polite exchanges, “dialogue is completely blocked, an analysis of those who follow the negotiations. Everyone is waiting to see who will release the ballast first. “
Reaching early agreement
The decision to stop, eventually, the two reactors at Fessenheim, in accordance with the demands of anti- nuclear and campaign promises, was announced on the arrival of Hollande at the Elysee Palace, in 2012. But the exact date of the closure has long remained unclear, as is the question of financial cost of the operation .
Since then the situation has begun to clarify. While judging that Fessenheim is a safe plant, which could further turn for years, EDF has agreed to close its Alsatian site, when the EPR under construction at Flamanville (Manche) will be commissioned. The law on energy transition, which tops out at 63,200 megawatts generation French nuclear electricity will be well respected. Given the delay of Flamanville, the opening of this plant and the shutdown of Fessenheim should take place towards the end of 2018, according to EDF.
The financial discussions, they have started there only a few weeks, from the time when M me Royal has appointed a negotiator, Jean-Michel Malerba, already interministerial delegate to the closure of Fessenheim. The objective of the state is to reach a rapid agreement, which will be submitted to the works council and the EDF Board of Directors. Then, the company will make a formal request to repeal the authorization to operate Fessenheim. This step, initially expected by M me Royal by the end of June, is now envisaged by EDF for the month of December.
the company is the victim of a “deprivation of a nuclear tool that works well, and was to be used again for years” Jean-Bernard Lévy
to Mr. Levy, the damage EDF in this case is “indisputable”, as he told a Senate hearing on 27 April. The company is the victim of a “deprivation of a nuclear tool that works well, and was to be used again for years” , he said. The Nuclear Safety Authority has in fact issued in 2011 and 2012, favorable opinion to the operation of the two reactors for at least ten years, EDF has invested to upgrade facilities. In such cases, it makes sense to claim compensation, as acknowledged by the Constitutional Council, in its decision of 13 August 2015.
A showdown begins
the authorities insist them on all the factors justifying a minimal compensation. Injury ? It may not be that important. The operation of Fessenheim for years was nothing gained, and still requires investments, say some. Another element to consider: the recent fall in electricity prices in the European market, sustainable movement ruled by analysts, due to production overcapacity
This decline reduced price. as the expected revenue as a central Fessenheim, so the shortfall in the event of early termination. The authorities also highlight the contacts made by the government to investors that could help in the conversion of the site, and thus reduce the cost of closing for EDF.
“Nevertheless, the government will have to explain many argue such a paltry amount, further complicating our difficult financial equation” exclaims a part of EDF.
the standoff followed closely by the minority shareholders of EDF, who have already seen their shares lose 60% of their value in five years, but also by the industrial partners of the group at Fessenheim. A third of the plant is owned by German EnBW and Swiss Alpiq, Axpo and BKW, who participated in its financing and use electricity generated on site. They also hope to be compensated properly.
No comments:
Post a Comment