3 ms·
>> It was reported >You should read your sources. It confirms what I wrote and contradicts what you wrote. It most certainly does not. Maybe english is not you
by Kon5ole 2y ago
>> It was reported
>You should read your sources. It confirms what I wrote and contradicts what you wrote.
It most certainly does not. Maybe english is not your first language? Here is a story in spanish about how France gave EDF 2.1 billion euros in 2022.
https://cincodias.elpais.com/cincodias/2022/02/18/companias/1645176934_613827.html https://cincodias.elpais.com/cincodias/2022/02/18/companias/...
"We're not going to nationalize it" said the politician. Months later, they paid another 10 billion euros to do just that, here is the story in dutch:
https://www.volkskrant.nl/economie/macron-biedt-10-miljard-voor-totale-grip-op-energiebedrijf-edf~b253a5c3/ https://www.volkskrant.nl/economie/macron-biedt-10-miljard-v...
So in 2022, France gave EDF directly over 12 billion euros. Saying they had 9 billion in profits when they were given 12 buillion by the state is a bit odd.
Surely a cool free 12 billion on top of the "insane profits" they generate on their own can't be less than the money they were given?
A grandfather who spends money using his grandchildren's credit cards is not profitable. And that is basically what EDF is doing.
The sad fact is that France has dug itself into a hole. They have a huge industry around nuclear, which is at the end of any pretense of profitability with an enormous mountain of unpaid costs coming up in the centuries ahead. This will be a burden on France's economy - the credit cards have run out, now the grandchildren have to pay.