France's Third Multiannual Energy Programme (PPE 3) for 2026–2035: Fundamental Analysis, Strategic Shifts, and Macroeconomic Consequences.

We publish an analysis of France's new energy program -  PPE 3 (2026-2035) 

Main findings of the report:

France bets on a nuclear renaissance: After nearly three years of intense discussions, France officially approved the Third Multiannual Energy Program (PPE 3). This document marks a radical shift in the national climate strategy and a pragmatic departure from the dogmas of the past decade. 

Unconditional return to nuclear power: The previous plan to reduce the share of nuclear generation has been officially scrapped. The focus is on extending the service life of existing reactors and building six new EPR2 reactors (with an option for eight more). The goal is to provide industry with stable and affordable electricity (380–420 TWh per year).

Renewables — rationalization instead of a race for megawatts: Targets for wind and solar have been revised downward. The priority now goes to upgrading existing onshore wind farms and projects that do not face local opposition 

Reindustrialization through electrification: The plan aims to double the reduction in dependence on fossil fuels by 2035, which would save up to €200 billion in energy imports. The transition is based on mass production of heat pumps and electrification of transport.

Innovative flexibility: For the first time, a 'revision clause' (2027) has been introduced. The state will be able to flexibly adjust the levels of support for renewable energy projects according to the real pace of the economy's electrification. 

Implementation risks: The document was adopted by government decree bypassing parliamentary voting, which has already provoked lawsuits demanding the cancellation of the program in the Council of State. Meanwhile, environmental organizations (including Réseau Action Climat) strongly criticize the reduction of energy efficiency targets and cuts to the government's 'green' budgets.

France is betting big on technological sovereignty. Will this strategy withstand the test of high interest rates and global climate instability?

Share your thoughts in the comments! 

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