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Unions at French power group EDF call for Jan 26 strike
Published by maria gbaf
Posted on January 19, 2022
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on January 19, 2022
1 min readLast updated: January 28, 2026
EDF unions call for a strike on Jan 26 against a government plan to sell more energy at below-market prices, impacting earnings.
PARIS (Reuters) – 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)
(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)
The main topic is the planned strike by EDF unions on January 26 against a government energy pricing plan.
EDF unions are striking to protest against a government plan that forces EDF to sell energy at below-market prices, impacting their earnings.
The government plan is expected to reduce EDF's core earnings by around 8 billion euros.
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