EDF is a french company. 86% of the shares are owned by the French Government and by September it will be 100% in public ownership. EDF is the main supplier of electricity in France. The electricity is generated at its nuclear power stations and there are 56 operable reactors in France. EDF owns and manages six nuclear power stations in the UK at, Torness, Heysham, Hinkley Point B, Hartlepool and Sizewell B. The UK reactors produce around 16% of UK’s energy, but EDF claim 25% of UK energy is nuclear, so, it may be that EDF are including power provided via interconnectors from France. Reading the TUC document “A fairer energy system for families and the climate” the TUC state that the big six energy supply companies in the UK can be bought for £2.85 billion. The TUC also state “compensation for nationalising all energy supply companies with all 28 million electricity consumers (and 23 million gas consumers) is estimated to cost £4 billion”
But, how would EDF feel about being nationalised by the UK Government when they’re already nationalised by the French Government? How would that work? Could EDF route the electric it produces at its UK nuclear plants back to France bypassing UK? The retail suppliers that the TUC is talking about are mostly subsidiaries of large energy generators. These generators are selling energy to their retail arms at a very good, although possibly not competitive, price. Would they be happy with nationalisation? Would they lower their wholesale prices for a UK nationalised supplier? Would they be happy to sell for £2.85 billion? I, seriously doubt it. To be honest, I don’t think the TUC are being straight with the British Public here, but maybe you know better. Let me know what you think, by commenting below.
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