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2mo ago

France Redirects Livret A Savings to Cover 60% of EPR2 Nuclear Program

The financing is a state‑guaranteed, very long‑term CDC loan capped at €100/MWh for EDF, now awaiting a parliamentary vote on the guarantee followed by European Commission review.

La Caisse des dépôts peut prêter à des taux jusqu’à 40 points de base au-dessus du taux de rémunération du livret A.
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Overview

  • The Élysée said the CDC’s Fonds d’épargne will supply 60% of the EPR2 program using regulated savings from Livret A, LDDS and LEP.
  • The package finances six new reactors at Penly, Gravelines and Bugey, with the program estimated at €72.8 billion.
  • Funding will come as a very long‑term loan to EDF with a state guarantee and an electricity price ceiling of €100/MWh.
  • Officials from the government, CDC and social‑housing sector insist core HLM lending will continue, while UFC‑Que choisir and analysts caution about possible crowding‑out and competition issues.
  • The operation now requires a vote on the state guarantee in the finance law followed by European Commission scrutiny, and saver account terms are reported as unchanged.