Home News Brussels to demand EDF repay EUR 888 mln

Brussels to demand EDF repay EUR 888 mln

Published on 28/11/2003

BRUSSELS, Nov 28 (AFP) - The European Commission is preparing to ask Electricite de France (EDF) to repay EUR 888 million (USD 1.064 billion) received in tax breaks from the French state, a spokesman said Friday.

European Union Competition Commissioner Mario Monti’s office is also calling for an end to state guarantees for the French state-owned power utility, as well as a reform of EDF’s retirement scheme, said Monti’s spokesman Tilman Lueder.

In Paris junior French Industy Minister Nicole Fontaine took issue with Monti’s position, which must still receive the backing of the full Commission.

“We think Commissioner Monti’s position can be challenged,” she told BFM Radio, adding that the government was awaiting the Commission’s official statement on the matter.

The Commission is the European Union’s executive arm.


                                                                Subject: French news