Électricité de France

key people	Bernard Fontana (chairman and CEO since March 2025)‡R1R‡

industry	Electric utility

products	Electricity generation, transmission and distribution; commercial energy trading

revenue	€139.7 billion (2023) ‡R2R‡

operating income	€39.9 billion (2023) ‡R2R‡

net income	€10.0 billion (2023) ‡R2R‡

assets	€364.8 billion (2023) ‡R2R‡

num employees	165,000 (2021) ‡R3R‡

owner	French state (100%)‡R4R‡

subsid	Dalkia Edison S.p.A. EDF Energy EDF Renewables Luminus Arabelle Solutions

homepage	edf.com

Électricité de France (lit. 'Electricity of France'), commonly known as EDF, is a French multinational electric utility company owned by the government of France. Headquartered in Paris, with €139.7 billion in sales in 2023,[5] EDF operates a diverse portfolio of at least 120 gigawatts of generation capacity in Europe, South America, North America, Asia, the Middle East, and Africa. In 2009, EDF was the world's largest producer of electricity.[6] Its 56 active nuclear reactors in France are spread out over 18 sites (18 nuclear power plants). They comprise 32 reactors of 900 MWe, 20 reactors of 1,300 MWe, and 4 reactors of 1,450 MWe, all PWRs.

EDF was created on 8 April 1946 by the 1945 parliament, from the merging of various divided actors. EDF led France's post-war energy growth, with a unique focus on civil nuclear energy, through reconstruction and further industrialization within the Trente Glorieuses, being a flagship of France's new industrial landscape. In 2004, following integration into the European Common Market, EDF was privatized, although the government of France retained 84% equity. In 2017 EDF took over the majority of the reactor business Areva, in a French government-sponsored restructuring. That same year, following a wish to divest from nuclear energy, the possible closure of 17 of EDF's French nuclear power reactors by 2025 was announced.[7] By 2022, this decision had been reversed, with the administration of president Emmanuel Macron announcing plans for a "nuclear renaissance", beginning with the projected construction of 6 EPR model 2 reactors with an option for 8 further reactors.[8] Meanwhile, construction is ongoing on EPR model 1 reactors in France and Britain.

Following privatization, decades of under-investment, and the 2021–2022 global energy crisis, the French government announced the full renationalisation of the company for an estimated cost of €5 billion, which it completed on 8 June 2023.[9]

The EDF group

Activities

EDF specialises in electricity, from engineering to distribution. The company's operations include the following: electricity generation and distribution; power plant design, construction and dismantling; energy trading; and transport. It is active in such power generation technologies as nuclear power, hydropower, wind power, solar energy, biomass, geothermal energy and fossil-fired energy.[10]

In November 2022, EDF agreed to acquire GE Steam Power's nuclear activities, which include the manufacture of non-nuclear equipment for new nuclear power plants including steam turbines and the maintenance and upgrade of existing nuclear power plants outside America.[11] The acquisition was completed on 31 May 2024, and GE Power's nuclear business is now known as Arabelle Solutions.[12]

History

Status of EDF

EDF was founded on 8 April 1946, as a result of the nationalisation of around 1,700 smaller energy producers, transporters and distributors by the Minister of Industrial Production Marcel Paul. Mostly a state-owned EPIC, it became the main electricity generation and distribution company in France, enjoying a monopoly in electricity generation, although some small local distributors were retained by the nationalisation.[20] This monopoly ended in 1999, when EDF was forced by a European Directive to open up 20% of its business to competitors.[21]

Until 19 November 2004, EDF was a state-owned corporation, but became a limited-liability corporation under private law (société anonyme), after its status was changed by statute. The French government partially floated shares of the company on the Paris Stock Exchange in November 2005,[22] although it retained almost 85% ownership as of the end of 2008.

Renewable energies

Plug-in hybrids and V2G

EDF has developed recharging points for the Toyota Plug-in HV in France[72]

The French government has contributed $550 million to a partnership by Électricité de France with Renault-Nissan and with PSA Peugeot Citroen.[73]

Photovoltaics

In 2018 EDF had plans to invest up to €25 billion in photovoltaics solar power generation, and introduce green electricity tariffs.[74]

Carbon Intensity

Competitors

As of 2017, EDF still held the business of 85.5% of France's residential customers, though on a slow downward trend.[74]

Main competitors

Apart from foreign producers and distributors, there are some significant competitors of EDF in France, although their market share is weaker in comparison:

Engie: the company formed after the merger of Gaz de France and Suez clearly intends to produce its own electricity, has bought stake in the future EPR nuclear reactors and is poised to become the most credible competitor of EDF in the newly liberalised French electricity market;
SNET (Société nationale d'électricité et de thermique): This company is the successor of depleting coal companies and primarily produce thermal electricity (2.5 TWh). Its capital (81%) belonged predominantly to Collieries of France and with EDF. A portion of the capital (30%) was sold to Endesa, the main Spanish electricity producer, another portion of 35% was sold in 2004. As of 2008 Endesa holds 65% of the equity of the generating company Snet;

External links

References

Dominique Vidalon, Forrest Crellin. France to replace EDF boss ahead of nuclear buildout Reuters, 21 March 2025^
2023 Annual Results edf.fr, 16 February 2024, retrieved 2 August 2024^

Finances

Between 2001 and 2003, EDF was forced to reduce its equity capital by €6.4 billion total because of the performance of subsidiaries in South America and Europe. In 2001, it also acquired a number of British energy companies, becoming the UK's biggest electricity supplier.[25]

The company remains heavily in debt. Its profitability suffered during the recession which began in 2008. It made €3.9 billion in 2009, which fell to €1.02 billion in 2010, with provisions set aside amounting to €2.9 billion.[26]

In January 2013 the company sold its 1.6% stake in U.S. utility Exelon for $470 million.[27]

In March 2016 EDF's Chief Financial Officer, Thomas Piquemal, who had argued that the final investment decision on building Hinkley Point C nuclear power station should be delayed for three years, resigned. With EDF's market value halved over the preceding year, the cost of the Hinkley Point C project now exceeded the entire market capitalisation of EDF.[28][29]

In March 2017 EDF offered a €4bn rights issue of new shares to increase capital availability, at a 34.5% discount. The French government committed to purchasing €3bn of the rights issue. Shares prices fell to an all-time low due to the heavy discount on new shares.[30]

EDF's net debt at the end of 2018 was €33 billion, but with future obligations such as pension liabilities and costs for managing nuclear waste allowed for, the adjusted net debt was €70 billion. In order to improve EDF's finances, as of 2019 EDF has sold €10 billion of assets, with plans to sell a further €2 to €3 billion of assets by 2021, and shareholders have been allocated new shares rather than cash dividends. Bonds have been issued in Asian currencies to expand sources of funding. It has financial commitments for new builds at Flamanville and Hinkley Point C. EDF is committed to spending €49.4 billion by 2025 for life extension of its French nuclear reactor fleet, which as of 2019 has an average age of 33 years, to 50 years.[31][32]

In December 2021, EDF had about €43 billion of debt, which investment analysts Morningstar expected to exceed €60bn by the end of 2022. EDF's credit rating was downgraded in February 2022.[33]

In February 2024, EDF took a €12.9 billion impairment charge on cost overruns building the Hinkley Point C nuclear power station,[34] and a further €1.1 billion later for inflation.[35]

Locally controlled or between local councils

Among the other rivals of EDF, one can count a number of municipally governed companies, known under the generic term 'entreprises locales de distribution' ('local businesses of distribution'), who are electricity producers exploiting EDF's network.

The nationalisation of electricity and gas on 8 April 1946, which profoundly changed the French electrical and gas organization, had however acknowledged the right of villages to keep their role in the public distribution of electricity and gas.

In 1946, certain firms, villages or groups of villages, did not accept the proposal of nationalisation and created autonomous state controls (who held the monopoly of distribution, until 2004, in their area). To note, contrary to the initial idea, local controllers of electricity, have had, since 1946, the choice to continue to produce electricity. In fact, their production was rather marginal, except in Rhône-Alpes; having often preferred buying the majority of the electrical power from EDF. With the recent opening of the electricity market, local controllers are considering developing, augmenting and diversifying their own production, (e.g. Ouest Énergie, the subsidiary company of SIEDS) and/or diversifying their sources of supply.

To date, the number of local businesses of distribution is approximately 170 and holds 5% of the distribution of French electrical power in 2,500 villages. Created by local authorities, they serve about 3 million people and represent 7,000 jobs. Around thirty of them – 9 during creation in 1962 – are federated in a national entity known as ANROC.[77]

Several departments are not, therefore, served entirely or partly by EDF, for instance:

Deux-Sèvres, supplied by SIEDS: partnership between local councils of Electricity of Deux-Sèvres;

Vienne, supplied by SIEEDV: partnership between local councils of Electricity and Works of the Department of Vienne;

Charente-Maritime, supplied by SDEER: partnership of Electricity and Rural Works of the Department of Charente-Maritime;

Gironde, supplied by Gironde Electricity. However, the company was sold to EDF at the beginning of 2000 because it could not financially maintain the damage of the severe weather of December 1999, on its network;

Alsace;

Rhône-Alpes.

type	State-owned
traded as	(2005–2023) CAC Next 20 component (2005–2023)
foundation	1946
founder	Government of France under the direction of Provisional Government Minister for Industrial Production Marcel Paul
hq location	22 avenue de Wagram
location city	Paris
location country	France

Électricité de France

The EDF group

Activities

History

Status of EDF

Renewable energies

Plug-in hybrids and V2G

Photovoltaics

Carbon Intensity

Competitors

Main competitors

See also

External links

References

Distribution network (RTE and Enedis)

Distribution network (RTE and Enedis)

Organization

Head office

The directorate

Head office

The directorate

Business

Statistics

Main partners and affiliates

Statistics

Main partners and affiliates

Finances

Energy policy

EDF spying conviction

DDoS attack on EDF site

Suing No Dash For Gas

Absorption of Areva reactor business

Effect of coronavirus pandemic

2021 stress corrosion cracking crisis

2021 global energy crisis

2022 Re-nationalization

Tidal farms

Locally controlled or between local councils

Security