On BFM Business, Éric Lombard, Director General of the financial arm of the State explains that this investment will not jeopardize the other expenses of the institution, in particular in social housing.
Faced with the massive investments to be made to finance the construction of new nuclear reactors, the government might direct part of the hundreds of billions of euros of savings deposited by the French on their Livret A towards these strategic sites.
Alex Reed of Good Morning Business, Éric Lombard, Director General of the financial arm of the State confirms this possibility.
“If Parliament confirms this proposal by the President of the Republic to build six new EPRs, it would be logical for the abundant savings of the French people to finance the new power stations”.
“Abundant” savings
And to explain: “Six power plants, it costs 60 billion euros, there will be a part in equity, a part in debt issued on the markets, the savings funds can quite finance part of this program which will last 10 years.
This investment which might be massive “will not be at the expense of social housing which is our first priority because the savings of the French are abundant, it will not be at the expense of the policy of the city” underlines Éric Lombard.
55 million French people have a Livret A for total savings of more than 375 billion euros at the end of 2022, according to figures from the institution.
“It’s a savings that we can invest in the very long term” adds the manager. “Today we make 80-year loans on land, why not 70-year loans for the construction of power plants. The subject is on the spot, Parliament will decide and if EDF and the government wish, we will put implemented” explains Éric Lombard.
As part of the roadmap unveiled by President Emmanuel Macron a year ago, France aims to build six new generation EPR2 reactors, with an option for eight more.
According to EDF, the construction cost of the six new EPR2s is estimated at 51.7 billion euros (excluding financing costs), plus 4.6 billion in the event of difficulty in implementation.
