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EDF nationalization will not raise French household power bills - government

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General view of the 585-megawatt EDF gas fired power plant in Bouchain (near Valenciennes), France, 7 July, 2022.

The planned nationalization of French power utility EDF (EDF.PA. ) will not lead to an increase in electricity bills for French households, Olivier Veran, a government spokesperson, said on Sunday (10 July).

Veran stated to LCI television that the nationalization of EDF would not have any impact on electricity prices for the French people.

French and EDF are looking for a new boss to oversee the utility's restructuring and build more nuclear reactors. This comes a day after France declared it would nationalize the debt-laden firm.

EDF, where the state holds an 84% share, is one the largest utilities in Europe. It is also central to France's nuclear strategy. The government hopes that EDF will help to reduce the effects of the soaring energy costs exacerbated by the conflict in Ukraine.

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