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Macron Says French State Should Take Over Some EDF Assets

  • EDF shares close up 5.1% in Paris, ADR’s jump 7.3% in New York
  • French president seeks to boost country’s energy independence
Electricity pylons and power lines near the EDF nuclear power plant in Paluel, Normandy, France.

Electricity pylons and power lines near the EDF nuclear power plant in Paluel, Normandy, France.

Photographer: Nathan Laine/Bloomberg
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French President Emmanuel Macron said some Electricite de France SA assets should be nationalized as part of his plans to bolster the country’s energy independence. 

The proposal is the latest sign of how the energy crisis triggered by the Russian invasion of Ukraine is prompting a raft of countries to rewrite their policies. From Germany’s abandonment of the Nord Stream 2 gas pipeline to the U.K.’s push to revive North Sea oil, Europe’s quest to be less reliant on imports has newfound urgency.