France could shut down up to six nuclear reactors by 2028 among other options, French media reported, as part of its medium-term energy policy to be presented next week.
“I can confirm that there are three scenarios on the table that we are looking at, we are making final adjustments and all will be presented next week,” French Environment Minister Francois de Rugy told France Inter radio, without specifying a date.
The so-called PPE energy plan will lay out France’s energy goals over the next 10 years with the aim of reducing the share of nuclear power in its energy mix to 50 percent from 75 percent by 2035, curb carbon emissions and boost renewables.
French news agency AFP reported on Tuesday, citing government working documents, that the government could shut down up to six nuclear reactors by 2028, including the planned closure of France’s oldest Fessenheim nuclear plant which is scheduled to stop production in 2021, according to one scenario.
Jefferies analysts, who have a “buy” rating on the shares of state-controlled utility EDF, said in a research note that two out of the three options seem to favour EDF, which operates all of France’s 58 nuclear reactors.
Even the accelerated nuclear phase-out option appears to offer some protection, via compensation, wrote Jefferies. (Reporting by Bate Felix and Mathieu Rosemain)