2023-11-15 10:31:54
The State and EDF have just announced an agreement on the price of nuclear electricity, after months of tense negotiations. 70 euros per megawatt hour: this is the average selling price which was revealed by Bercy and which would be closer to EDF’s nuclear production costs. This agreement, intended to preserve the competitiveness of French industry, will allow all companies with fewer than ten people and less than 2 million euros in turnover to benefit from a regulated rate.
This is the end of a long series which played out against a backdrop of accounting difficulties in assessing the real costs of producing nuclear electricity in France. This new tariff of €70 seems balanced, although far from EDF’s expectations of around €100, but higher than the full cost of production of the French nuclear fleet estimated by the CRE (€60.7/MWh) for the period 2026- 2030.
A new model for regulating nuclear electricity prices, to replace Arenh
L’Arenh[1]this system established for 15 years[2] ends at the end of 2025. However, this system which serves as a reference for EDF to set the prices invoiced to manufacturers has until now made it possible to limit their exposure to the fluctuations of a particularly unstable market.
Nevertheless, the minimum tariff of €42 per megawatt hour retained for Arenh at the time caused a lot of tension on the part of EDF, which saw it as a shortfall, while the energy company has a record debt of 65 billion euros and will have to invest at least 25 billion euros per year for the maintenance of the nuclear fleet and the construction of new reactors.
Taxation of EDF revenues beyond the threshold set
If this rate of €70 is almost double that set by Arenh, it will ensure a reasonable price of electricity for consumers, in a context where electricity is currently trading at around €120 per month. MWh for delivery in 2025.
Concretely, the new regulatory system will consist of taxing the income generated by EDF, up to 50% when electricity is sold above €78 to €80 per MWh and 90% above €110 on the electricity market. fat. The figure of €70 therefore corresponds to an average price. For the State, the goal is then to redistribute this money to consumers.
Main objective: keeping companies competitive
This is good news for VSEs: the system will now be accessible to businesses that consume the most energy (artisans, bakers, etc.) supplied above 36 kVA.
According to Bruno le Maire, “All companies with fewer than ten people and less than 2 million euros in turnover will be entitled to a regulated rate, regardless of their level of electricity consumption. There will therefore no longer be a threshold at 36 kilovolt-amperes (kVA). »
Increases in electricity prices are nevertheless inevitable, as Minister of Industry Roland Lescure clarified on France Info: “This will result in increases in energy prices, but they will be limited. Above all, prices will be less volatile than in the past.”
This price cap is therefore welcome, although there are still gray areas regarding the concrete implementation of the system.
[1] Regulated access to historic nuclear electricity
[2] Law No. 2010-1488 of December 7, 2010
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