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fromThe Local France
6 days agoEDF announces 240m plan to help France electrify
EDF has launched a €240 million aid plan to support households and businesses in transitioning from fossil fuels to electricity.
UK energy bill payers will hand over 2bn a year in subsidies to EDF, the French company building two nuclear power stations, according to government figures. EDF, owned by the French government, will be entitled to 1bn in annual payments as soon as Hinkley Point C, in Somerset, comes on to the grid in 2030. The sum is due under the contracts-for-difference system that guarantees low-carbon energy companies a fixed price for the electricity they generate.
Pod Point’s acquisition by EDF for £10.3 million underscores the dramatic shift in the company's valuation, from £352 million during its 2021 IPO to a fraction of that.