The French government already owns 84% of Électricité de France, but it is now planning to fully nationalize the company just as the company warns of a huge 29 billion Euro loss. After suffering through the global pandemic, France’s nuclear industry is now facing maintenance issues, an absence of new nuclear investment, and a lack of water for cooling due to drought. France derives roughly 70% of its energy from nuclear power, and its nuclear power generation is now at an all-time low, highlighting why this is such a major issue for the French government. France is working up to fully nationalizing the currently 84% state-owned nuclear energy company Électricité de France (EDF) at the same time that the company is anticipating a massive downturn in profits. EDF had already warned investors that its core profits would take a considerable hit this year, but just sharply increased that projected […]