OK - so they providers of capital (in this case largely the French state/taxpayers) invest in EDF at a cost of around 10%.
On this they currently receive a return of around 6% - 4 percentage points lower.
Cost 10%, return 6%. Now that is simple. Please tell me how this represents UK electricity consumers subsidising the French?
Again there is a difference between profits and profitability even if it is considered patronising to point this out. But the bottom line is that, in effect, EDF shareholders are subsiding the consumers not the other way around. Yes, there is a profit at the end of the year. Yes, this largely goes to French state (but look at annual report and see how/why equity capital (the bit they own) shrunk last year), but when seen in relation to providing this capital in the first place, they are making a negative return. Perhaps this explains why their share price performance has been so poor.
So to end my contribution to this thread, "merci mes amis francais, vous etes tres gentils" (apologies for any grammatical errors)
I am pretty sure ernie knows he is doing it
Of course - par for the course! Like him, I (normally) find it funny!