EDF in talks with French state over renewable energy costs
Aug 1, 2012 - French utility EDF (EPA:EDF) has recently started negotiations with the French state over the feed-in tariff for renewable energy, which is currently covered exclusively by the group, financial director Thomas Piquemal said Tuesday during a conference call.
EDF is paying a high price for investments in renewable energies although the hydro, solar and wind power projects compensated the nuclear outages in the first half of the year.
The feed-in tariff for renewable energy is partly financed by the consumer tax CSPE and does not cover the group's costs. Consequently, the utility's cumulative deficit related to the CSPE amounted to EUR 4.5 billion (USD 5.5bn) at end-June.
The talks with the public officials are aimed at finding a solution for this burden, the financial chief said.