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France’s EDF resisting the closure of Fessenheim nuclear power plant

Poster EDF menteurEDF board prepares to defy Hollande on nuclear closure Power company’s bid to keep plant open shows president’s waning authority, Ft.com 19 Jan 17 by: Michael Stothard in Paris François Hollande risks falling short on another pledge as the board of state-controlled energy company EDF next week prepares to vote down his plans to close France’s oldest nuclear plant.

The French president promised in 2012 to shut down the Fessenheim power plant near the German and Swiss borders — long a target for anti-nuclear activists — in a bid to win over the Green party. But with just months left of his mandate ahead of the presidential election on April 23, some within EDF are attempting to drag their feet long enough for a change of government, according to three people with knowledge of the situation……..
Mr Hollande’s difficulties are partly down to a legal quirk with the vote. Six government-appointed representatives on the boardare not allowed to vote on the motion because of a conflict of interest, according to people close to the company. Six union representatives are set to vote against closure. The CGT and moderate CFDT unions have both said publicly that they will do so to protect the 850 workers at the site. This means it will take only one of the six remaining independent board members to vote against closure for the motion to be rejected. According to several people with knowledge of the situation, at least one is willing to vote no.
 The Hollande government has put immense pressure on EDF to formalise the closure……..
The government does hold some cards. The state, as well as owning 85 per cent of the company’s equity, is participating in a €3bn capital raising. It must also sign off on an extension of the licence for a stopped second reactor at Paluel in northern France. A person close to the situation said the government could conceivably find a way around the board opposition or convince some board members to change their mind. …….
If EDF hangs on long enough, it might be able to resist the closure of Fessenheim completely. François Fillon, the centre-right presidential candidate who is the frontrunner to win the presidential election, has said he is against the closure of the plant.https://www.ft.com/content/62551c48-de77-11e6-9d7c-be108f1c1dce

January 21, 2017 - Posted by | France, politics

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