As part of a roadmap unveiled about a year ago, France wants to build six new generation EPR2 reactors. According to EDF group estimates, the construction cost of these new EPR2s would amount to 51.7 billion euros, without taking into account a possible extension of a few billion in the event of difficulty in implementation.
Faced with this colossal sum that must be mobilized, the government is now considering several options. The Ministry of Energy Transition says that no decision has been made for the moment but the Livret A could be one of the privileged tracks, believe to know a source quoted by our colleagues Echoes. “The Livret A is one of the rare resources which makes it possible to deploy very long-term financing, this corresponds quite well to the nuclear profile”, she affirms.
60% of the Livret A is managed by the CDC
Today, no less than 55 million French people have a Livret A. According to figures provided by the Caisse des dépôts et consignations, the outstandings on this investment would exceed 375 billion euros at the end of the year. 2022. These savings, which are invested by the French and which are guaranteed by the State, are 60% managed by the CDC. The remaining 40% are managed directly by the banks.
If historically, the CDC used Livret A funds to finance social housing, it is also authorized to finance projects of general interest – including the energy mix. In a television address on BFM-TVÉric Lombard, Chief Executive Officer of Caisse des Dépôts, also stated that it would be “logical for these savings, in a democratic project, that of our energy mix, to finance the power stations”.
Before parliament, which will ultimately decide whether or not to apply the roadmap, Éric Lombard added “I am convinced that popular savings, from Livret A, from the Livret de développement durable et solidaire, from the Livret d’ popular savings […] can even more finance the transformation of our energy production apparatus”.
© Caisse des dépôts et consignations
Of course, the Livret A will not finance the entire project: part will be financed with equity, another part with debt issued by the government on the financial markets, and a last part which could call on savings. Éric Lombard wants to be reassuring and promises that this project will not be done “at the expense of social housing which is our first priority” because savings are abundant.
Whatever the government’s decision, everyone is then free to make a decision on their savings according to their convictions. Funds placed in the Livret A are available at any time: everyone can withdraw their capital (with a minimum of 10 euros for each withdrawal, except at the Postal Bank where withdrawals start from 1.50 euro) without notice. In case of disagreement on the strategy of the CDC, the French can withdraw their funds.
