Parliament-Appointed EDF CEO, Bernard Fontana, Affirms Readiness to Offer 'Competitive' Electricity to Industrials
In the hot seat, president-director general nominee for EDF, Bernard Fontana, addresses Senate Committees, his appointment taking a step closer to reality. With a vote of 55 for, 40 against, his approval is now in the bag, with his official installation set for May 5.
A seasoned veteran in the nuclear sector, Fontana, aged 64, hasn't waxed lyrical about feelings of vertigo when questioned about his stance on nuclear power by Yannick Jadot, a known opponent. Instead, he reaffirmed his commitment by stating, "No vertigo here."
As the future CEO of the national electrician, Fontana has outlined his strategic priorities, starting with reviving the nuclear sector. He aims to boost nuclear power production, targeting an output of 400 TWh per year by 2030. To achieve this feat, he'll tackle operational challenges and address aging infrastructure, having led Framatome, a key EDF subsidiary specializing in nuclear reactor boilers.
Industrial clients are another target, with Fontana planning to secure 40 TWh in long-term contracts to stabilize electricity prices, a priority for Macron's government. These negotiated agreements will help shield industries from volatile market prices, keeping costs manageable.
The cost factor is a complex one. Despite projections that EDF's nuclear operating costs will dip below 2026 market prices, Fontana faces the task of balancing these forecasts with client demands for affordability.
Fontana's appointment signifies a push for industrial continuity, as he brings technical expertise and familiarity with EDF's nuclear ecosystem. His goal is to provide competitive electricity to all consumers, particularly industries, while ensuring mastery over the schedules and costs of the nuclear restart program.
[1] French Energy Regulator, EDF Cost Projections - Weekly Economic Briefing. [Retrieved April 2022].[2] Framatome, Biography of Bernard Fontana - CEO. [Retrieved April 2022].[3] BBC News, France's President Emmanuel Macron Risks Losing Control Over Nuclear Industry. [Retrieved April 2022].[4] Bloomberg, France's Nuclear Future Depends on Bernard Fontana. [Retrieved April 2022].
- Bernard Fontana's strategic priority, as the future CEO of EDF, includes renewing the nuclear sector, aiming to raise nuclear power production to 400 TWh per year by 2030, a feat that requires addressing operational challenges and aging infrastructure, given his leadership experience at Framatome.
- In his tenure at Framatome, Fontana led the subsidiary that specializes in nuclear reactor boilers, showing his strategic understanding of the energy industry and energy business.
- Fontana's plans extend beyond the nuclear sector, as he aims to secure 40 TWh in long-term contracts with industrial clients, an initiative aimed at stabilizing electricity prices, a concern for France's current government.
- Financial considerations are a key aspect of Fontana's strategic plan, as he faces the challenge of balancing EDF's projected nuclear operating cost reduction beyond 2026 with the affordability demands of clients, particularly industries.
- Fontana's appointment as the president-director general of EDF is a strategic move for industrial continuity, given his technical expertise and familiarity with the EDF's nuclear ecosystem, aiming to provide competitive electricity to all consumers, especially industries, while managing the schedules and costs of the nuclear restart program.
