...PARIS (S&P Global Ratings) Dec. 5, 2018--France's energy plan proposed on Nov. 27 represents no big change for the strategy of ElectricitT de France S.A. (EDF) according to a preliminary view of the proposal, S&P Global Ratings said today, noting that nuclear reactor closures are to be limited in the coming decade. As such, the ratings on EDF (A-/Negative/A-2) remain unaffected by the plan, which envisages the future of energy in France in terms of power demand, supply, energy mix, and energy efficiency targets. In particular, it sets a roadmap for ambitious growth in renewables and reduced nuclear in the energy mix to 50% by 2035 from about 75% today. The proposals would also result in little change in the company's credit profile and the challenges it faces. We therefore see EDF remaining largely exposed to the volatile and competitive wholesale energy market, while at the same time maintaining significant leverage and limited ability to reduce its debt. On a positive note, the French...
