EDF shares fell more than 20%

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Paris: Shares of EDF fell more than 20% on Friday morning on the Paris Stock Exchange after the government asked the company to supply more electricity at lower prices.

The stock declined at 09:45, by 21.82%, to reach 8.09 euros, after stopping in the first exchanges due to excessive movements.

In order to limit the rise in electricity prices for consumers, the French government asked EDF to increase the volume of nuclear electricity sold by 20% at a reduced price to its competitors this year, from 100 to 120 TWh, knowing that purchasing power is one of the titles of the current presidential campaign.

Analysts from Alpha Value considered that these numbers “may scare investors.”

Ten of the 56 nuclear reactors are currently shut down for maintenance or other reasons, representing 20% ​​of France’s nuclear production capacity. Closing other plants in the middle of winter when electricity consumption is high could disrupt the country’s power supply or even power outages in the worst case.

The Institute for Radiation Protection and Nuclear Safety told AFP on Thursday that the nuclear reactor at the Benley (San Maritimes) plant was also affected by a corrosion problem in a security system that was discovered in four currently offline reactors.







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