EDF in talks about compensation with French government

EDF is to hold talks with the French government over compensation due as a result of the planned shutdown of the country’s oldest nuclear power plant.

Referring to the closure of Fessenheim nuclear power plant, Chief Executive Officer of EDF Henri Proglio told RTL Radio, “Discussions will be started with the government. I am responsible for a company so I am responsible vis a vis my investors to defend the interests of the company. That’s legitimate.”

Nuclear power plant
French President Francois Hollande said Sept. 14 Fessenheim will be shut at the end of 2016, marking the first step in his bid to reduce the nation’s reliance on atomic power.

France holds 84 percent of EDF (Euronext: EDF) which owns the country’s 58 working nuclear reactors and is developing a new one in Flamanville in Normandy, reports Bloomberg.

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