EDF Is Offering Long-Term Nuclear Power Contracts to Its Biggest Users
- Utility says long-term contracts help contain power prices
- France to cap EDF’s revenue to ensure nation’s competitiveness
EDF’s contract announcement also comes as the French government gave the nationalized utility six months to prove that it can supply power at a competitive cost for businesses.
Photographer: Matthieu Rondel/BloombergElectricite de France SA is offering nuclear power supply contracts of at least 10 years to the country’s largest electricity users, saying it will shield businesses from the high energy costs that hit Europe last year when Russia invaded Ukraine.
The utility will hold talks with about 150 of France’s most power-hungry companies with the aim to cover about half of their electricity needs with the long-term contracts, Marc Benayoun, senior executive vice president in charge of customers and energy services, said Tuesday. Companies with lower demands are being offered different deals with durations of up to five years, he said.