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Big fall in EDF’s shares

 

EDF’s shares fell by 14.6 per cent after Macron ordered the company to
sell cut price energy to its rivals to stave off price hikes. The scheme
will cost EDF €8bn (£6.7bn), the French state-controlled energy group
warned yesterday, forcing the company to revise annual earning estimates.

French President Macron promised in September to cap power price increases
at four per cent this year, passing the cost of a 44 per cent rise in
energy prices onto suppliers in order to protect households. The
announcement compounded the woes of EDF investors, who have seen shares
shed 25 per cent of their value in a month.

 City AM 15th Jan 2022
 https://www.cityam.com/edf-shares-plummet-as-macron-shields-public-from-soaring-energy-bills/

January 17, 2022 - Posted by | business and costs, France, politics

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