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Unions at French power group EDF call for Jan 26 strike

Unions at French power group EDF call for Jan 26 strike
Unions at French power group EDF call for Jan 26 strike   -   Copyright  Thomson Reuters 2022
By Reuters

PARIS – The main trade unions of French power group EDF called for a strike on January 26 to protest against a government plan to increase the amount of cheap energy EDF must sell to rivals at under-market prices, which would hit EDF’s results.

“Instead of calling into question the startling failure of this opening up of the market, the government has decided to sacrifice EDF,” said the unions in a joint statement.

The CEO of EDF on Monday expressed “real shock” and indignation after EDF was told to sell more power to rivals at below-market prices in a bid to head off public anger against rising power bills in a French election year.

The French state owns 84% of EDF’s shares. The group forecast last week that the government decision would knock around 8 billion euros ($9.1 billion) off its 2022 core earnings before interest, taxes, depreciation and amortization.

($1 = 0.8778 euros)