EDF Hit by EU Subsidy Probe Into 73 Billion Nuclear Plans

Image for article EDF Hit by EU Subsidy Probe Into 73 Billion Nuclear Plans
News Source : Financial Post

News Summary

  • Electricite de France SA faces an in-depth probe by European Union competition enforcers into a €72.8 billion ($83.5 billion) plan to built six nuclear reactors.
  • The European Commission said Tuesday it will check whether the financing may give state-owned EDF an unfair advantage.
  • France is at the forefront of trying to usher in a nuclear renaissance in Europe, with the technology seen as providing a crucial source of clean “baseload” power for times when wind or solar fails to provide enough to meet demand.
(Bloomberg) Electricite de France SA has been hit with an indepth probe by the European Unions competition enforcers over a 72.8 billion ($83.5 billion) plan to built six nuclear reactors backed by [+4749 chars]

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