DIRS.INFO The most relevant business & tech news

Alberta, the country's main oil and gas producing province, paused approvals on Aug. 3 of new renewable electricity generation projects over one megawatt until Feb. 29, chilling investment in the fast-growing industry. The pause is necessary to address concerns about renewables' reliability and land use, said a spokesperson for Alberta's utilities minister. A second company has paused design work on its first Alberta project, Dye added. Along with domestic firms, foreign companies like Berkshire Hathaway's (BRKa.N) BHE Canada, EDF Renewables and Enel Green Power generate renewable power in Alberta. The pause directly affects 15 projects in the approvals queue, the government spokesperson said.

Persons: Todd Korol, Danielle Smith, Smith, Justin Trudeau's, Jorden Dye, Dye, Pembina, Grant Arnold, Arnold, BluEarth, Dan Balaban, Rod Nickel, Steve Scherer, Denny Thomas, Marguerita Choy Organizations: REUTERS, Rights, Justin Trudeau's Liberal, Business Renewables, THE, THE ALBERTA WAY, EDF Renewables, Companies, Pembina Institute, Renewables, U.S . Alberta Utilities Commission, Greengate, Copenhagen Infrastructure Partners, Thomson Locations: Rocky, Pincher Creek, Alberta, Rights WINNIPEG , Manitoba, Canadian, U.S, Calgary, THE ALBERTA, THE ALBERTA WAY Alberta, Berkshire, Canada, Winnipeg , Manitoba, Ottawa

☆ France issues 'red alert' over heatwave in south
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Electricite de France (EDF) is seen in front of electrical pylons at the Tricastin nuclear power plant site in Saint-Paul-Trois-Chateaux, France, November 21, 2022. The departments targeted by the alert, which allows local authorities to call off events and close public facilities if needed, are the Rhone, Drome, Ardeche and Haute-Loire, Meteo France said. Earlier on Monday, Meteo France had issued an orange alert for half of the country's territory, saying temperatures will reach between 35 and 38 C (95 to 100 F) in most of the affected departments. Temperatures are expected to rise to between 40 and 42 Celsius (104 and 108 F) on Tuesday afternoon in the southern departments of Ardeche, Drome, Vaucluse and Gard, Meteo France said. Some technical issues at the reactor also played a role in delaying the restart to Aug. 25, an EDF spokesperson told Reuters.

Persons: Eric Gaillard, Meteo, Forrest Crellin, Dominique Vidalon, Tassilo Hummel, Sudip Kar, Emelia, Jonathan Oatis Organizations: REUTERS, Rights, EDF, Reuters, Thomson Locations: France, Saint, Rhone, Drome, Ardeche, Haute, Loire, Meteo France, Vaucluse, Gard

☆ EDF swings back to profit in H1 thanks to price increases
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

Net income came in at 5.8 billion euros ($6.44 billion), compared to a loss of 5.3 billion in the first half of 2022. The earnings before interest, taxes, depreciation and amortization (EBITDA) reached 16.1 billion euros, from 2.7 billion euros a year earlier. Net debt rose slightly to 64.8 billion euros, from 64.5 billion euros at the end of 2022. The French state became the sole shareholder of the public utility after taking full control at the beginning of June. A government decision in 2022 to limit electricity price increases, as well as reduced power supply due to stress corrosion problems at several EDF reactors led to a record net loss of 18 billion euros in 2022.

Persons: Forrest Crellin, Benjamin Mallet, Silvia Aloisi Organizations: Electricite de, SA, PARIS, EDF, Thomson

☆ Centrica hikes dividend as profits at British Gas soar
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +2 min

Britain's Centrica announced bumper returns for shareholders on Thursday after its first-half profits surged on an almost ten-fold increase at its British Gas supply business. Centrica has doubled its support package for struggling customers to 100 million pounds ($130 million), it added. The British Gas Energy supply division posted adjusted profits of 969 million pounds versus 98 million a year earlier. The firm said it would invest 4 billion pounds by 2028 on security of supply, energy flexibility and renewable power. Overall, Centrica's adjusted operating profit for the first six months of 2023 rose to 2.08 billion pounds from 1.34 billion pounds a year earlier.

Persons: Britain's Centrica, Chris O'Shea, Centrica, O'Shea Organizations: British Gas, British Gas Energy, EDF's Locations: Ukraine

☆ AT&T does not intend to immediately remove lead cables from Lake Tahoe
▼ + stars: | 2023-07-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File PhotoJuly 18 (Reuters) - AT&T (T.N) said on Tuesday it does not intend to immediately remove lead cables from Lake Tahoe pending further analysis, according to its court filing. AT&T on Tuesday harshly criticized the newspaper's reporting and testing, saying it "differs dramatically from the expert testing commissioned by AT&T." In Tuesday's court filing, AT&T argued that lead-clad cables "make up a small part" of its network. EDF's goal was to use scientifically sound principles to determine the extent that lead-clad cables may pose health risks. We did not pick the lab - the Wall Street Journal did that."

Persons: Brendan McDermid, Tom Neltner, Neltner, David Shepardson, Chris Reese, Matthew Lewis, Muralikumar Organizations: New York Stock Exchange, REUTERS, Journal, AT, Wall, EPA, . Environmental Protection Agency, Environmental Defense Fund, Environmental Defense, Safer Chemicals, Reuters, EDF, Marine Taxonomic Services, Street, Thomson Locations: New York, U.S, Tahoe, California, Nevada, Washington

☆ AT&T does not intend to immediately remove lead cables from Lake Tahoe -court filing
▼ + stars: | 2023-07-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File PhotoJuly 18 (Reuters) - AT&T (T.N) said on Tuesday it does not intend to immediately remove lead cables from Lake Tahoe pending further analysis, according to a court filing. AT&T on Tuesday harshly criticized the newspaper's reporting and testing, saying it "differs dramatically from the expert testing commissioned by AT&T." In Tuesday's court filing, AT&T argued that lead-clad cables "make up a small part" of its network. The company estimated that lead-clad cables "represent less than 10% of its copper footprint of roughly two million sheath miles of cable, the overwhelming majority of which remains in active service." The company in 2021 agreed to remove lead-clad telecommunications cables from Lake Tahoe, which straddles California and Nevada, to resolve a lawsuit despite its belief that they pose no danger.

Persons: Brendan McDermid, ”, David Shepardson, Chris Reese, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Journal, AT, Wall, Environmental Protection Agency, Environmental Defense Fund, EDF, EPA, Thomson Locations: New York, U.S, Tahoe, California, Nevada, Washington

☆ France to raise regulated household electricity prices by 10% from August
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

PARIS, July 18 (Reuters) - The French government has decided to raise regulated household electricity prices by 10% starting from August, a government official said on Tuesday, confirming a report from newspaper Les Echos. The 10% increase is much lower than the one proposed by the French Energy Regulatory Commission (CRE), which - based on current market prices - recommended an increase of 74.5%. In May, Finance Minister Bruno Le Maire said France's cap on electricity prices would be phased out and end at the end of next year. European electricity prices soared last year, mainly driven by the fallout from the war in Ukraine. France also saw record-low nuclear output as state-owned utility EDF (EDF.PA) repairs reactors affected by stress corrosion.

Persons: Les, ”, Bruno Le Maire, France's, Benjamin Mallet, Tassilo Hummel, Charlotte Van Campenhout, Jason Neely Organizations: French Energy Regulatory Commission, Finance, EDF, Thomson Locations: Europe, Ukraine, France

July 13 (Reuters) - High river temperatures that look set to restrict power output at two French nuclear plants that use river water to cool reactors may trigger increased fossil fuel-fired power output elsewhere due to Europe's extensive regional power trading. French power system in hot waterIn turn, any increased output from fossil fuel-fired power plants will likely lift regional power sector emissions, undermining regional efforts to accelerate cuts to all forms of industrial pollution. France is also Europe's second largest electricity generator behind Germany, producing roughly 470 terawatt hours (TWh) of electricity in 2022, compared to Germany's 582TWh, and 324TWh by Europe's third largest generator, the United Kingdom. France's high proportion of non-emitting nuclear power means that its power sector has by far the lowest carbon intensity of any major European economy, averaging around 85 grams of carbon dioxide per kilowatt hour of electricity produced. That compares to more than 385 grams in Germany, 257 in the United Kingdom, and 300 for Europe as a whole, Ember data shows.

Persons: Germany's 582TWh, Gavin Maguire, Jamie Freed Organizations: International Atomic Energy Agency, EDF, RTE, Reuters, Thomson Locations: France, Germany, Switzerland, Spain, Italy, United Kingdom, Ember, Europe, Belgium, Luxembourg

☆ 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

☆ European wind developers play down Siemens Gamesa turbine troubles
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

UBS analysts said that in a worst-case scenario charges for Siemens Energy could exceed 5 billion euros. Denmark's Orsted said it operates one onshore wind farm with Siemens Energy turbines and that Orsted's portfolio of turbines has "high availability rates, reflecting that wind power has very little down-time." Siemens Gamesa has already told Iberdrola that it would proceed with a retrofit design, the source said, adding no technical issues for the remaining fleet of Siemens Gamesa turbines had been observed. Siemens Energy shares were up 5.7% at 1428 GMT, recovering some losses after analysts said Friday's sell-off was overblown. Siemens Gamesa first disclosed problems around its 5X model in July 2021, flagging higher than expected ramp-up costs.

Persons: Siemens Gamesa, Germany's, Denmark's Orsted, Eolus Vind, Iberdrola, Friday's, Andres Gonzalez, Forrest Crellin, Christoph Steitz, Marek Strzelecki, Nikolaj Skydsgaard, Nora Buli, Pietro Lombardi, Nina Chestney, Mark Potter, Alexander Smith Organizations: Siemens, Siemens Energy, UBS, EDF, Copenhagen Infrastructure Partners, Siemens Gamesa, Poland's PGE, Thomson Locations: Spanish, Copenhagen, Baltica, Baltic, London, Paris, Frankfurt, Warsaw, Oslo, Madrid

☆ Pension reform defiance brings new blood to French trade unions
▼ + stars: | 2023-05-18 | by ( Leigh Thomas | ) www.reuters.com time to read: +5 min

Interest is growing among younger and private sector workers, where unions tend to be less well represented. Vacheron said that more than 30% of the CGT's recent joiners were under the age of 35 while 70% were coming from the private sector, which traditionally is dominated by the CFDT. "Since the retirement reform is contested by the young and old, public and private sector workers, they see a utility in belonging to unions, unions are attractive," Vacheron said. "Unions are rebuilding themselves from the ground up through recruitment and not only street protests," sociologist Michel Wieviorka said. Labour relations consultant Stephanie Matteudi-Lecocq said that the momentum coming from pension reform pushback could ultimately put unions back on more solid footing in companies.

☆ France to uphold electricity price caps until early 2025, finance minister says
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 21 (Reuters) - France's cap on electricity price hikes will stay in place beyond 2023 and likely be phased out over a two-year period, Finance Minister Bruno Le Maire said on Friday, arguing power prices haven't "normalised" yet. "Electricity prices haven't returned to normal, so we will take a little more time to withdraw the price cap. I give us another two years until early 2025," Le Maire told broadcaster LCI in an interview. Le Maire, however, said the government will likely end similar household price caps for natural gas at the end of 2023, because gas prices have lowered significantly in recent months after spiking in the aftermath of Russia's invasion of Ukraine. In addition to a 15% price hike limitation on energy tariffs, the government has also pressured retailers to guarantee affordable food prices.

☆ Bank of America expects this under-the-radar global EV charging stock to soar 118%
▼ + stars: | 2023-04-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of U.K.-listed electric charging infrastructure firm Pod Point are expected to surge by 118% over the next 12 months, according to Bank of America. The investment bank increased its price target and predicted shares of the company would rise to £1.74 in a note on April 11. Bank of America expects the recent rise in the number of EVs in the U.K. to bolster demand for charging infrastructure and benefit the London-listed stock's bottom line. Pod Point, with a market cap of £120 million ($150 million), manufactures its EV chargers and provides customers in the U.K. and Norway access to its electricity network. BofA also said the discounted valuation for Pod Point shares is "unjustified" given the company's growth.

☆ 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.

☆ Macron says Europe should not follow U.S. or Chinese policy over Taiwan
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

April 9 (Reuters) - French President Emmanuel Macron said in comments published on Sunday that Europe had no interest in an acceleration of the crisis over Taiwan and should pursue a strategy independent of both Washington and Beijing. Macron has just returned from a three-day state visit to China, where he received a warm welcome from President Xi Jinping. "The worst thing would be to think that we Europeans must become followers on this topic and adapt to the American rhythm or a Chinese overreaction," Politico quoted him as saying. On Friday, an adviser to Macron told reporters in Guangzhou that Xi and Macron had a "dense and frank" discussion on the issue of Taiwan during their meetings. Macron travelled to China with a 50-strong business delegation including Airbus and nuclear energy producer EDF, which signed deals during the visit.

[1/2] French President Emmanuel Macron delivers a speech to inaugurate the Festival Croisements at the Red Brick Museum in Beijing, China, April 5, 2023. For Macron's visit at least, there are high expectations in Beijing. "In other words, not everyone wants to see Macron's visit to China go smoothly and successfully." Later in the afternoon, Macron and von der Leyen will separately hold talks with President Xi Jinping before all three hold trilateral talks in the evening. "Three-quarters of the delegation are business leaders: the goal is first and foremost to sign contracts," left-wing MEP Raphael Glucksmann wrote on Twitter ahead of Macron's visit.

☆ In Beijing, French business community welcomes Macron's overtures
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +3 min

BEIJING, April 6 (Reuters) - Among the French business executives travelling to Beijing with President Emmanuel Macron, the mood was cautiously sanguine on the thawing post-pandemic trade prospects with China, with some rejecting American-led calls for 'decoupling'. It shows the business community is supported by the president, it's very important vis-à-vis the Chinese authorities," Thierry de la Tour d'Artaise, chairman of French appliance group SEB (SEBF.PA), told Reuters. The size of Macron's business delegation was criticised by some commentators, though. "Three-quarters of the delegation are business leaders: the goal is first and foremost to sign contracts," Raphael Glucksmann, a left-wing member of the European parliament, wrote on Twitter ahead of Macron's visit. Operating in China still presented challenges for French businesses, China-based French expats said.

Macron last visited China in 2019 while it will be von der Leyen's first trip since becoming European Commission president that year. However, some analysts said ostentatious deal-signing would appear opportunistic at a time of heightened frictions between the United States and China. "Both (Macron and von der Leyen) have not only business in mind but also Ukraine," said Joerg Wuttke, president of the EU Chamber of Commerce in China. Macron and von der Leyen are expected to echo the message that Xi should also talk to Ukrainian President Volodymyr Zelenskiy. China and EU decoupling will only serve U.S. interests, but make both China and Europe suffer," it said.

☆ Strikes hit French nuclear output, disrupt EDF maintenance plans
▼ + stars: | 2023-03-24 | by ( Forrest Crellin | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoPARIS, March 24 (Reuters) - Strikes in France are impacting maintenance plans at EDF's (EDF.PA) nuclear plants, curbing production just as the utility hoped to rebound from a 34-year output low last year. At least 14 nuclear reactors in EDF's fleet of 56 have suffered some delay affecting their maintenance plans, data from the CGT union showed. For EDF that has meant nuclear power output in 2023 even lower than last year when it had swathes of reactors offline for repairs and checks for stress corrosion cracks. EDF declined to comment on the impact of the strikes on its maintenance plans. French nuclear safety watchdog ASN requested EDF revise its maintenance program due to new cracks discovered this month in some reactors.

☆ A tidal power 'mega project' in one of Europe's iconic waterways could power 1 million homes. But costs are huge
▼ + stars: | 2023-03-13 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

Authorities in Liverpool want the river to be home to a huge tidal power project which, they say, could power as many as 1 million homes, generating thousands of jobs for the region in the process. Speaking to CNBC, Martin Land, director of the Mersey Tidal Power Project, outlined how the system would work in practice. Tidal barrage systems in operation today include EDF's 240 megawatt La Rance tidal power plant in France, and South Korea's 254 MW Sihwa Lake tidal power plant, currently the world's largest. The agreement, it added, would see "K-water and the Combined Authority working closely together to explore possibilities for tidal power." "Once operational, Mersey Tidal Power would have the potential to become the world's largest tidal power scheme," he said.

[1/6] People walk in a street where garbage cans are overflowing, as garbage has not been collected, in Paris, France March 10, 2023. REUTERS/Benoit TessierPARIS, March 10 (Reuters) - Garbage piled up in Paris streets and fuel deliveries were blocked from refineries as workers continued rolling strikes against pension reform but President Emmanuel Macron refused to meet with unions and said the reform must go ahead. But the hardline CGT union at TotalEnergies' Donges refinery said the strike would continue at least until Thursday and garbage collector unions had set no date for a resumption of services. According to an interior ministry note cited by French TV BFM, police expect that 800,000 to one million people will demonstrate. Fuel deliveries were also disrupted at the Fos refinery, operated by ExxonMobil (XOM.N) subsidiary Esso, a CGT spokesperson said.

☆ New York City launches program to help lower-income residents recover from floods
▼ + stars: | 2023-03-10 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

New York City has introduced a new pilot program that will help residents from lower-income communities recover more quickly from major flooding events. The program is designed in part to help frontline communities get quicker relief after climate-related disasters and make up for an often slow and complex payout process from private insurance providers or the federal government. Tens of thousands of New Yorkers reside in low-lying neighborhoods where climate change has prompted rising sea levels, worsening coastal storms and more frequent flood events. Rising tides and more frequent storms in New York City will put up to $242 billion of real estate at risk of coastal flooding by the 2050s, according to a report by the city's comptroller. "I think of this pilot as one of many potential creative ways we can start improving equity and recovery," Kousky said.

On Tuesday, a nationwide day of industrial action brought record numbers of people onto the streets against the policy change. But Olivier Gantois, the head of the French Association of Petroleum Industry (UFIP), said there was little impact on consumers for now. The logo of French oil and gas company TotalEnergies is seen at TotalEnergies fuel depot in Mardyck, near Dunkerque, as France faces the sixth nationwide day of strike and protests against French government's pension reform plan, France, March 7, 2023. REUTERS/Pascal RossignolThe four French LNG terminals and all of the gas storage facilities also remained blocked, FNME-CGT representative Fabrice Coudour said. The next nationwide day of strikes and protests is set for Saturday.

PARIS, March 5 (Reuters) - Industrial action in France over the government's planned pensions overhaul will cause heavy disruption to public transport again on Tuesday, the transport minister and several public transport authorities said on Sunday. Some unions, such as the hardline CGT, called for a rolling strike at refineries and at the national railway operator SNCF. "We are moving up a gear," the head of CGT, Philippe Martinez, told French weekly JDD. It is up to him to withdraw this reform," he said, referring to President Emmanuel Macron. RATP, the public transport operator for the Ile-de-France region around Paris, also said metro lines and suburban trains will be heavily disrupted, with some metro lines only running at peak hours.

☆ French court to rule on landmark TotalEnergies Uganda case
▼ + stars: | 2023-02-27 | by ( America Hernandez | ) www.reuters.com time to read: +3 min

PARIS, Feb 27 (Reuters) - A French court on Tuesday could order oil major TotalEnergies (TTEF.PA) to halt the development of an east Africa pipeline in a landmark case based on legislation that makes big companies liable for risks to the environment and human rights. TotalEnergies has argued that its vigilance, compensation and relocalisation plans are fair and legal, and that a French court does not have the power to control the overseas activities of its subsidiary TotalEnergies EP Uganda. The non-governmental organisations behind the suit seek an emergency suspension of TotalEnergies' east Africa projects until financial compensation has been paid to those they say have been harmed as a result of those plans. In a statement to Reuters on Monday, TotalEnergies said its vigilance plan had been implemented effectively in the projects under scrutiny. Reporting by America Hernandez, Editing by Silvia Aloisi and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "EDF"

25 mentions found