© Reuters. FILE PHOTO: French Economy Minister Bruno Le Maire speaks during the European Space Agency (ESA) Council at Ministerial level (CM22) at the Grand Palais Ephemere in Paris, France, November 23, 2022. REUTERS/Benoit Tessier
PARIS (Reuters) -France has definitively shelved plans for a restructuring of the state-controlled nuclear power group EDF (EPA:), code-named Hercules, French Finance Minister Bruno Le Maire said on Friday.
“Hercules has been dropped and we will not go back on it,” Le Maire said during a visit of the Penly nuclear site in northern France.
The revamp, which aimed to separate the debt-laden nuclear power business from the rest of the company’s assets, had been dropped after it notably raised concerns about job security among employees, who feared that a split between the EDF businesses could result in job cuts.
France is buying out the 16% of EDF it does not already own to take the company private and have a free hand in running it as European governments seek to secure its energy supplies.
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