The European Commission launches an in-depth investigation into the EPR2 programme

France is considering helping EDF to finance the programme to build six EPR2 reactors through two measures:

• A preferential-rate loan covering up to 60% of the programme’s total cost, estimated at €72.8 billion,
• A contract for difference that would guarantee EDF stable revenues for 40 years, whereby the State would compensate EDF if the market price of electricity is too low and EDF would pay money back to the State if market prices are too high.

The aim of the investigation is for the European Commission to ensure that this aid complies with European competition rules by verifying that the state aid is “strictly limited to what is necessary” and that it does not strengthen EDF’s dominant position in the French electricity market.