The chairman of France’s biggest utility has blasted Germany’s energy policy, referring to it as a disaster.
Henri Proglio, chairman and chief executive EDF told reporters in London that while France undoubtedly has problems, their neighbours’ difficulties with the imposition of their ongoing Energiewende policy were far more acute.
“When it comes to energy they are in a disaster,” he said. “The two major companies, Eon and RWE are under huge pressure. One is more or less dead, the other is in a very difficult situation.”
Proglio was responding to a question about perceptions of France’s own faltering economy, which he agreed had difficult challenges to face.
“It’s very difficult to make a judgment about France in a few minutes. It’s a country where you have some very good and some very bad examples. We have to force the country to make some improvements in public overheads to drive more investments,” he said.
RWE announced a 62 per cent fall in profit in August and said it planned to shut down more power stations. Germany’s second-biggest utility by market value blamed its situation on the expansion of renewable energy, which it said had left many of its power stations unable to cover their operating costs.