Affected by the health crisis, EDF is preparing a comprehensive plan of economy

The group, hard hit by the epidemic, is considering sales of assets, a freeze on hiring and investment, as well as budget reductions.

Severely affected by the pandemic covid-19, EDF is preparing a plan of economy which could be presented at the end of July, said Monday the management and the trade unions. "There was much to study a plan of economy which is called Mimosa," said a spokesman for the electricity producer, confirming information of the daily Le Monde.

The direction notes that these cost saving measures are not yet quantified and detailed at this stage. She hopes to be able to unveil on the occasion of the publication of half-yearly results of the company, on July 30. According to The World, the savings "should be between 2 billion and 3 billion euros." The group is considering the disposal of assets, a freeze on hiring and investment, as well as reductions in budget, writing the newspaper.

Fall of the electricity consumption of 20%

on the union Side, Dominique Bousquenaud, secretary-general, FCE-CFDT, confirmed that the directorate has asked the various branches and subsidiaries, to present budgets revised downwards. "The company is looking to make savings everywhere after a loss of revenue of 2.5 billion euros due to the health crisis, and with a debt that may reach 50 billion euros by two years," he says.

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"we Are assured that nothing is set in stone on this savings plan, but that there is a need to do so, and that nothing should be decided before the board of directors at the end of July," says his side Philip Page The Merour, of the CGT.

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The pandemic of covid-19 resulted in a fall in electricity consumption of up to 20% in France with the shutdown of entire sectors of the economy. It has also disrupted the planning of industrial EDF, which will be able to produce less nuclear power than expected. Heavily indebted, the group must also deal with substantial investments in its nuclear fleet or expand in renewable energy.