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EDF will be relegated to energy 'second division' without reform -CEO

PARIS, Feb 18 (Reuters) - French power group EDF will fall behind rivals and become a second tier energy player without a pending reform of France’s nuclear sector, its chief executive told Les Echos newspaper in an interview on Thursday.

EDF, which published lower profits for 2020 on Thursday, is hoping the reform will move ahead, as it will also influence the price at which it sells on its nuclear energy to third parties.

Restructuring talks with Brussels over a reorganisation of the firm have hit stumbling blocks.

“It’s true that the negotiations are not moving fast enough,” CEO Jean-Bernard Levy was quoted as saying in Les Echos, adding that the European Commission was caught up in anti-trust and state aid deliberations.

“We’re falling behind our big competitors ... If we don’t find the means we need to invest, we will be relegated to second division.” (Reporting by Benjamin Mallet; writing by Sarah White; editing by Jason Neely)

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