nuclear-news

Livret A: Will part of French savings soon be used to finance nuclear power?

 Le Monde De L’Energie 13th Oct 2025

This is a historic turning point for French public savings. The Caisse des Dépôts et Consignations (CDC) has confirmed that a portion of the funds from the Livret A savings account could be used to finance the construction of new EPR nuclear reactors. This unprecedented move symbolizes the rapprochement between public finance, industrial strategy, and national energy sovereignty.

An unprecedented agreement between the State, EDF and the Caisse des Dépôts

Traditionally, the money in the Livret A savings account is intended to support social housing and local public infrastructure.  But on Thursday, October 10, CDC CEO Olivier Sichel announced a major development: “We have reached an agreement with Bercy and EDF on using the Savings Fund.” This statement, made to the Association of Economic and Financial Journalists, marks the first official confirmation of the Livret A’s involvement in financing the French nuclear program.

This shift, both energy-related and financial, is part of the government’s desire to revive civil nuclear power. The state plans to build six new EPR reactors by 2038, at a total cost estimated at less than €100 billion, according to estimates by former Energy Minister Marc Ferracci.

A crucial step: the Brussels agreement

Before the transaction can become a reality, one key step remains: European approval. “The French government will present its proposal to Brussels to obtain approval for the overall financial model,” Olivier Sichel explained. The stakes are as much legal as they are political: the European Commission will have to verify that this financing scheme does not violate competition or state aid rules.

The Brussels agreement will make it possible to secure access to part of the Savings Fund, funded by French savings, while guaranteeing that investments remain safe and profitable for depositors.

A treasure of 400 billion euros at the nation’s disposal

The Caisse des Dépôts currently manages approximately €400 billion in regulated savings, collected in particular through the Livret A (Livret A), the Livret de développement durable et solidaire (LDDS) (Sustainable and Solidarity Savings Account), and the Livret d’épargne populaire (LEP) (People’s Savings Account). Just over half of these funds are already allocated to long-term loans to finance social housing or regional policies.

The remainder, invested in financial assets, could now contribute to financing the country’s energy infrastructure, including new nuclear reactors. “Nuclear power is obviously part of our energy sovereignty,” explained Olivier Sichel, adding that this direction aims to strengthen France’s capacity to produce stable, carbon-free electricity.

This announcement comes as the government seeks to diversify funding sources for a nuclear program estimated at colossal sums, in a context of constrained budgets and strong tension on the energy markets…………………………………..

 this development is already raising questions. Some social housing stakeholders fear that this shift will reduce the funds available for their projects. ………….

Asked about financial risks, Olivier Sichel also warned of the tensions threatening global markets, particularly in the technology sector. “The colossal investments in artificial intelligence are drawing parallels with the internet bubble of the late 1990s,” he warned, urging caution.

A major turning point for public investment policy

By linking popular savings to the country’s energy strategy, the government and the Caisse des Dépôts are redefining the role of the Livret A savings account in the French economy. This investment, held by more than 55 million French people, is becoming not only a social financing tool, but also a pillar of industrial and energy recovery.

If Brussels gives the green light, France will usher in a new era: one in which every euro placed in a Livret A savings account could, indirectly, contribute to fueling the nation’s future nuclear reactors. …… https://www.lemondedelenergie.com/livret-une-partie-de-lepargne-des-francais-bientot-mobilisee-pour-financer-le-nucleaire/2025/10/13/

October 21, 2025 - Posted by Christina Macpherson | business and costs, France