The EDF Energy CEO said that EDF’s operations in the UK and France are separately profitable in their own right, which is vital to fund the massive investment needed in the UK in the coming years.
Mr de Rivaz said: The latest EDF Energy price rises are a result of record wholesale gas and coal prices. These costs are out of our control. In fact, to mitigate these effects, we have led the UK industry in helping the most vulnerable.
In France, electricity prices are lower because 80% is generated by nuclear power. By contrast, 75% of electricity generation in the UK is from coal or gas-fired plants. So, for electricity generation, Britain is hugely exposed to volatile fossil fuel prices while France is largely insulated. That is exactly why we are proposing to build new nuclear power plants in the UK as part of a future diverse mix.
