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☆ Electricite de France to invest in all decarbonated power, CEO says
▼ + stars: | 2023-12-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We are going to invest in all of the dimensions of decarbonated power': Electricite de France CEOElectricite de France CEO Luc Remont discusses the company's investment and energy mix outlook amid the green transition.

Persons: Electricite, Luc Remont Locations: France

☆ Exclusive: EDF CEO tells managers nuclear business to be reorganised
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

Companies Electricite de France SA FollowPARIS, June 29 (Reuters) - EDF CEO Luc Remont told managers on Thursday that the state-owned power group's nuclear activities would be reorganised to overcome recurring problems that cut production last year. Two sources said the division would be restructured and five executives charged with drawing up proposals, including nuclear park head Cedric Lewandowski, head of new nuclear projects Xavier Ursat and head of industrial quality Alain Tranzer. France is the region's largest exporter of power, but the outages cut 2022 nuclear power output to the lowest level since 1988. Remont told the group's top 300 managers that talks were still underway with the state and EU competition regulators about its existing and future nuclear activities, the source said. There's no need to wait for a final decision from the president's office," the source said after attending the meeting with managers.

Persons: Luc Remont, Cedric Lewandowski, Xavier Ursat, Alain Tranzer, Emmanuel Macron's, Remont, Elizabeth Pineau, Benjamin Mallet, Josephine Mason, Leigh Thomas, Jan Harvey Organizations: Electricite de, SA, PARIS, EDF, Reuters, French, Thomson Locations: France, EU, Paris, London

☆ Exclusive: EDF warns of 1 billion euro loss due to French strikes, reviews hiring - sources
▼ + stars: | 2023-04-13 | by ( Benjamin Mallet | ) www.reuters.com time to read: +2 min

PARIS, April 13 (Reuters) - French utility EDF (EDF.PA) has warned drawn-out strikes at its nuclear reactors and hydro-electricity plants have cost it 1 billion euros ($1.10 billion) in lost output and that it is reviewing hiring plans for the year, three sources said. An EDF spokesperson told Reuters that a moratorium had been imposed on hirings. It comes as EDF's new chief executive draws up a plan to ramp up nuclear production and lighten the group's heavy debt load. The group had originally planned to hire between 3,000 and 3,500 people in 2023, mostly in nuclear production and sales, one of the sources said. The group's net debt rose to 64.5 billion euros in 2022, up from 43 billion a year earlier.

REUTERS/Denis BalibousePARIS, Dec 9 (Reuters) - France's state-controlled utility EDF said on Friday three of its nuclear reactors were "ramping up" production after repairs, while a power outage tested nerves in Paris and cold weather added to the strain on supplies across Europe. EDF (EDF.PA) is racing to get nuclear reactors back online following work to tackle corrosion problems as the whole of Europe struggles to cope with the impact on its energy supplies of the Ukraine war. Compounding the impact of disrupted energy imports from Russia, a record number of outages at EDF's 56-strong nuclear fleet has taken France's nuclear output to a 30-year low, increasing the country's reliance on other country's depleted energy reserves. Later on Friday, EDF Chief Executive Luc Remont and French Finance Minister Bruno Le Maire are due to hold a news conference at a nuclear site. POWER CUTSGrid operator RTE, however, says the country's power supplies will be stretched even if EDF manages to stick to its repair schedule, and partial load-shedding measures cannot be ruled out this winter on cold days.

☆ Welders wanted: France steps up recruitment drive as nuclear crisis deepens
▼ + stars: | 2022-11-29 | by ( Benjamin Mallet | ) www.reuters.com time to read: +7 min

EDF estimates that France's nuclear industry needs to recruit between 10,000 and 15,000 workers a year over the next seven years. Despite relatively high unemployment, France's manufacturing, construction, engineering and IT industries complain they can't get the workers they need. These people work with molten metal at 1,500 degrees Celsius, and sometimes have to stand upside down," said one welder in the nuclear industry, who asked not to be identified. Before the war in Ukraine, successive administrations sought to reduce France's reliance on nuclear energy, not build new reactors, they say. For a long time, France was Europe's nuclear energy champion - and its biggest electricity exporter.

PARIS, Oct 27 (Reuters) - EDF (EDF.PA) is expecting a hit of around 32 billion euros ($32.18 billion) to its full-year core earnings from lower nuclear production, a bigger loss than previously estimated and its sixth profit warning this year. The group, which is in the process of being fully nationalised, confirmed nuclear output would come in at the lower end of a previously announced 280-300 terawatt-hours range - a 30-year low. In September, EDF had forecast a hit to its earnings of 29 billion euros due to lower production. The combination of lower output and capped electricity prices means EDF is set to end the year with a big loss. The company's core earnings or EBITDA in 2021 came in at 18 billion euros.

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