EDF Files Suit for More Than $8 Billion

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EDF is suing the French government for at least €8.34 billion ($8.6 billion) for forcing it to sell an additional 20 terawatt hours of electricity at a loss-making tariff of €46.20 under the hugely controversial "Arenh" scheme. That's a fifth of the 100 TWh the utility is normally forced to sell at €42/TWh to competing energy suppliers who can then resell it at market rates. When it announced the plan on Jan. 13, the government said it was doing it to protect consumers in the face of soaring electricity prices. In its announcement made Aug. 9, EDF said that following "an in-depth legal analysis, and in light of the losses incurred" as a result of the forced additional sales, "EDF today filed a legal claim with the Conseil d'Etat (the French administrative supreme court), as well as a claim for indemnification, for an amount estimated to date at 8.34 billion euros, with the French State." This is in line with 2022 losses EDF projected in January of between €7.7 billion-€8.4 billion.

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