Editorial of the “World”. On November 9, 2021, Emmanuel Macron enacted the principle of relaunching the construction of nuclear reactors in order to guarantee the“energy independence of France”. Two months later, the terms of this decision are still not known. But in the meantime, the conditions for the return to grace of the French nuclear industry have deteriorated. The bad news is piling up to the point of casting doubt both on the current state of the reactor fleet and on EDF’s ability to finance and build new plants.
In recent months, a series of technical problems has forced the shutdown of up to 16 reactors at the same time, resulting in a drop in electricity production unseen for thirty years. The announcement a few days ago of a further delay in commissioning the Flamanville EPR only worsens the situation.
This observation reveals the vulnerability of our electricity production system. The Nuclear Safety Authority (ASN) thus underlines the risk of sooner or later being confronted with a delicate trade-off between the safety of installations and securing the energy supply. The French nuclear “gendarme” also warns of the fragility of the fuel manufacturing and reprocessing process, on which crucial decisions are slow to be taken.
Another doubt has come to complicate the equation, with the government’s recent decision to call on EDF to cushion the surge in energy prices. As a shareholder with 84% of the group, the State demands that the company sell off its prices for the benefit of its competitors to “preserving the purchasing power of the French”. The objective is undoubtedly laudable in the short term, but it is a very bad blow to the finances of EDF, which is thus punctured by 8 billion euros on its results.
Erratic decisions
Already heavily indebted, the public company faces a wall of investments, not only to ensure the maintenance of the existing fleet and the dismantling of the oldest sites, but also to build the new reactors that the President of the Republic calls of his wishes. At a time when EDF must accelerate to support the energy transition, the government weighs down the company with a baroque arbitration. Preferring to settle a question of purchasing power three months before the presidential election to the detriment of our strategic energy choices runs the risk of paying dearly.
The succession of setbacks experienced by the nuclear industry is not just the result of an unfortunate coincidence. It reveals a cruel lack of vision on the part of the public authorities. In recent years, the State has continued to take erratic and sometimes contradictory decisions forcing it to come to the aid of its main actors.
After the closure of the Fessenheim power plant (Haut-Rhin) decided under François Hollande and carried out in the first half of 2020, Emmanuel Macron now wishes to relaunch nuclear power. It is a political choice that can be justified by the advantages that this energy provides in terms of CO emissions.2, on condition that doubts about the sector’s ability to meet the challenge of its development, financially, industrially and in terms of safety, are removed.
For this, a clear roadmap is needed. What role should EDF play, how high will the company have to be recapitalized, are we able to commit to a credible timetable for building new power plants? So many questions that are still sorely lacking answers.