In 1990, 30 percent of Europe’s electricity came from nuclear power plants. In 2026, it is closer to 15 percent.

European Commission President Ursula von der Leyen lamented the decline of nuclear energy, calling it a “strategic mistake” when Europe turned its back on a “reliable, affordable source of low-emissions power.”

The French government plans to fully nationalize the debt-laden Électricité de France, the sixth largest publicly traded company in France and operator of the 56-unit French nuclear reactor fleet. Currently, EDF is 84 percent state owned.

Macron

As part of its drive for carbon neutrality by 2050, France will build at least six new nuclear reactors in the coming decades, according to a February 10 article from Reuters. "What our country needs, and the conditions are there, is the rebirth of France's nuclear industry," French president Emmanuel Macron said as he announced France’s new nuclear strategy.

Macron also said that he wanted to extend the life spans of France’s existing nuclear plants.

The price tag: The six new plants would be built and operated by state-controlled energy provider EDF, which has estimated the cost of those plants total at about 50 billion euros (about $57 billion), depending on financing conditions, according to the article.

The first new reactor, an evolution of the European Pressurized Reactor (EPR), would come on line by 2035, Macron said. The article added that the country would embark on a study to determine whether a further eight reactors beyond the initial six would be needed.