EDF Said to Get at Least 400 Million Euros to Close Fessenheim
- Compensation is four times the sum first offered by government
- Hollande has pledged to shut nuclear plant during his mandate
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Electricite de France SA will get at least 400 million euros ($451 million) in compensation for closing two nuclear reactors at Fessenheim in eastern France, about four times what the government initially considered, two people with knowledge of the agreement said.
The utility reached a preliminary deal with the government on the amount, which can be supplemented by several payments over the next two decades depending on future power prices, said the people, who asked not to be identified because the agreement must be presented to EDF’s workers committee on Sept. 14 and be reviewed by the board.