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France's Nuclear Champion Sacrificed to Stave Off Energy Crisis [Business News Network (BNN) (Canada)]

Equitable Holdings, Inc. (EQH) 
Last equitable holdings, inc. earnings: 2/26 04:15 pm Check Earnings Report
The government will force Electricite de France SA to sell more power at a steep discount, costing the utility almost $9 billion. The move will protect households and small businesses from surging energy prices, boosting both the economy and the political fortunes of President Emmanuel Macron -- at the risk of breaking the backbone of the country's energy policy. It's not surprising that France should lean on EDF in a time of dire need -- the company has been the nation's key power supplier for decades. Its fleet of reactors has delivered enough cheap and clean electricity to meet domestic needs, while also exporting to neighboring countries. The French government decided that it “must protect consumers, and that will done at the expense of EDF,” said Xavier Regnard, an analyst at Bryan, Garnier & Co. Yet the extra burden is being imposed when EDF has never been weaker. It is struggling with costly maintenance problems that have kept its aging plants offline -- one of the reaso Show less Read more
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