Will the election of Francois Hollande as France’s president mark the beginning of a major step change in the French domestic power market, and particularly the nuclear sector?

Hollande, France’s first Socialist president since Francois Mitterrand left office in 1995, has long talked about cutting the number of French nuclear reactors, while his predecessor, Nicolas Sarkozy, had pledged to extend the lifespan of the country’s fleet.

As the weekend’s election result became clear, the share price of French energy giant EDF dropped amid fears of tightly-regulated power rates and government demands for greater investment from power firms.

Hollande has pledged to shut EDF’s oldest reactor at Fessenheim during his five-year term. He has also vowed to implement “progressive rates” for power, water and natural gas that would make them more affordable for low-income households, and wants to freeze gasoline and diesel prices for three months to give his new government time to revise the fuel tax system, a move that will impact global players GDF Suez and Total.

There is little doubt that a shift away from nuclear such as that seen in Germany will appeal to Hollande’s Socilaist roots, but in reality this is unlikely.

Firstly, France simply does not have the same renewable energy resources as Germany, and secondly, it is unclear whether the public appetite is there for such a move. While several polls say the French are opposed to nuclear power, almost all add the caveat that people are also comfortable in the risk-management procedures of EDF, and therefore are content with a ‘better-the-devil-you-know’ situation.

And with EDF such a force of French power in global industry – it’s the second biggest owner of infrastructure in the world after the US government – and French engineering companies at the cutting edge of nuclear design, this is a sector that any new president needs to keep on-side – at least for the time being.