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A general view shows cooling towers and reactors of the Electricite de France (EDF) nuclear power plant in Cattenom, France, June 13, 2023. REUTERS/Yves Herman Acquire Licensing Rights
PARIS, Nov 13 (Reuters) – State-controlled power group EDF and the French government have agreed on 70 euros per megawatt hour (MWH) as a reference level for future prices of nuclear power, a source close to the government said on Monday.
The deal ends months of fraught negotiations between EDF, which is eager to maximise revenues to fund investments, and the government, which wants to keep electricity bills for French households and businesses as low as possible.
EDF declined to comment.
EDF and the government have also agreed to adopt mechanisms that would protect consumers if power market prices rise above 110 euros/MWH, and the deal includes clauses that would provide a price guarantee for EDF, the source said.
An agreement should be officially announced this week, the source added.
Reporting by Elizabeth Pineau, additional reporting by Benjamin Mallet, writing by Gus Trompiz, editing by Silvia Aloisi
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