paristhe french government said wednesday that it plans to nationalize utility edf sa saying the step is necessary to manage the transition away from fossil fuels at a time of energy crisis in europe the power company which is already 84 controlled by the state has been absorbing billions of euros in losses since president emmanuel macron imposed a cap on electricity prices forcing edf to buy supplies at higher market prices without passing the cost onto consumers those losses have become heavier as russia has cut the flow of natural gas to europe triggering a surge in gas and power prices edf also lies at the center of mr macrons ambitious plans to develop frances nuclear fleet as a way of cutting emissions to fight climate change