DIRS.INFO The most relevant business & tech news

☆ Winter freeze tests French power grid
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

PARIS, Dec 5 (Reuters) - Temperatures dropping close to zero in coming days will pose the first real test of the resilience of France's electricity grid amid warnings over possible power cuts, though President Emmanuel Macron urged the French not to panic. "Consumption is set to peak at 80 GW (versus 73 GW on Dec. 5), while wind power is expected to be below normal. Should the nuclear availability remain at 37-38 GW the supply gap risk would be much more acute than today." Meanwhile, further delays on nuclear reactors were announced at the weekend. Reuters Graphics Reuters GraphicsReporting by Ingrid Melander and Forrest Crellin, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ Macron says "no panic" about possible French power cuts
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 3 (Reuters) - French President Emmanuel Macron said there was no reason to panic about possible power cuts this winter, but he called on citizens to use less energy and on state utility EDF to restart nuclear reactors to prevent outages in case of cold weather. In an interview with French TV station TF1 recorded during his state visit to the United States this week, Macron denied that the risk of rolling blackouts was due to inadequate management of EDF's (EDF.PA) nuclear reactor restart programme. It is legitimate for the government to prepare for the extreme cases which would mean cutting off electricity for a few hours per day if we did not have enough power," Macron said. The head of French power grid operator RTE said on Thursday that France may face "some days" of power cuts this winter and the government has started briefing local authorities on how to handle any outages. Reporting by Geert De Clercq; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

☆ Cold weather could cause French power cuts next week
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

Companies Electricite de France SA FollowPARIS, Dec 1 (Reuters) - Cold weather could lead to power cuts in France on Monday as delays to the restart of nuclear power following repair work leave supply lagging demand, analysts said. Nuclear power supply had been expected to reach around 40 gigawatts (GW) this week, but operator EDF's (EDF.PA) delay in restarting reactors meant it rose to only around 35 GW, leaving France more reliant on imports and gas-fired production. "If we remain at 35 GW, next week Monday could become quite tight: we expect the demand at otherwise seasonally normal levels, but 35 GW of nuclear would be too low to meet a possible demand peak at 73 GW," Gerl said. The current EDF schedule shows 3 GW of nuclear power returning to the grid next week, putting total capacity at 38 GW for the first cold spell of the peak demand winter season. Reuters Graphics Reuters GraphicsGrid operator RTE said on Thursday France may face "some days" this winter when there was too little electricity supply.

[1/2] Christel Heydemann, CEO of Orange, attends the MEDEF union summer forum "La Rencontre des Entrepreneurs de France, LaREF" at the Paris Longchamp Racecourse in Paris, France, August 30, 2022. 1 telecoms operator Orange (ORAN.PA) said on Wednesday, as the prospect of energy rationing looms amid the war in Ukraine. Executives said at the time there were not enough back-up systems in many European countries to handle widespread power cuts. "The operators put pressure so that we don't cut their antennas, there's a kind of arm wrestling," the source told Reuters. Only a few thousands mobile antennas would be completely shielded from potential power cuts at this stage, a telecoms industry source said, thus covering a fraction of the population and of the territory.

☆ Three companies vie to build new Czech nuclear plant
▼ + stars: | 2022-11-30 | by ( Jan Lopatka | ) www.reuters.com time to read: +2 min

The Czech Republic has been a strong backer of nuclear energy as a carbon-free power source for the future, unlike European Union neighbours Germany and Austria. CEZ plans to build three more nuclear units - on top of the one now planned - at its Dukovany and Temelin nuclear sites, as the country diversifies away from coal. It is also planning to build smaller modular nuclear power plants. Poland picked Westinghouse last month to build its first nuclear power plant, and also agreed to cooperate with South Korea on potential further units. In 2020, the cost of the project - not including financing and inflation - was estimated at 6 billion euros ($6.2 billion).

☆ 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.

[1/6] A snowboarder starts a climb ahead of the season opening and amid surge in electricity costs in winter sports resort Val Thorens, France, November 24, 2022. A number of ski resorts including Chamonix and Val Thorens have also pledged to limit artificial snow production and reduce heating within buildings, officials said. Half of France's ski resorts have had to renegotiate their long-term electricity contracts this year amid record-high inflation, and they expect an annual bill that could increase three to six-fold in 2023, said Alexandre Maulin, who chairs France's ski resorts association. Val Thorens was able to secure a contract with utility EDF before the energy crunch for the most part of 2023. Our motto is that we always get out of difficult situations, and it will be the case this time again, because we will adapt," said Jerome Grellet, head of Val Thorens ski lift operator SETAM.

☆ After decades as a nuclear powerhouse, France makes its play in offshore wind
▼ + stars: | 2022-11-25 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

This image, from Sept. 2022, shows French President Emmanuel Macron speaking with workers on board a boat during a visit to the Saint-Nazaire Offshore Wind Farm. A facility described as "France's first commercial-scale offshore wind project" is fully operational, multinational utility EDF said this week. The news represents a significant step forward for the country's offshore wind sector, with more projects set to come online in the years ahead. Located in waters off the south west coast of France, the Saint-Nazaire project consists of 80 turbines. Looking ahead, EDF said the wind farm would "supply the equivalent of the consumption of 700,000 people with electricity every year."

More than a year after Washington, London and Canberra torpedoed a big French submarine contract, pushing Franco-US relations to breaking point, the two countries are expected to put on a show of unity on common threats from Russia and China. The French leader will try to negotiate exemptions for European companies on the model of those Mexico and Canada has already got, a French presidential adviser said. Macron wants France to build more nuclear reactors but it is struggling with corrosion issues at its ageing plants. Macron will also travel to Louisiana, ostensibly to pay tribute to the state's French heritage, but also to discuss energy issues, the French presidential advisor said. "The United States produce cheap gas but sell it to us at high price," Macron told French executives on November 8.

☆ EDF could lose 5 bln euros from France's windfall tax -Les Echos
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 24 (Reuters) - A planned French windfall tax on energy companies' profits during Europe's current energy crisis would likely cost debt-laden nuclear giant EDF (EDF.PA) around 5 billion euros ($5.20 billion) next year, newspaper Les Echos reported on Thursday. The levy, which is part of the 2023 fiscal bill parliament is currently deliberating, would make EDF by far the biggest contributor to the scheme, Les Echos said. EDF, the operator of France's nuclear plants and many renewables sites, declined to comment. The French government intends to trigger the levy at 100 euros per megawatt hour (MWh) for nuclear and renewable energy production. The move will further strain EDF finances, which after various profit warnings this year linked to problems at its nuclear reactors, is in the process of being fully nationalised.

☆ France's EDF, Credit Agricole sign 1 bln euro nuclear loan
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: 1 min

LONDON, Nov 18 (Reuters) - EDF (EDF.PA) and Credit Agricole (CAGR.PA) said on Friday they had signed a 1 billion euro ($1.04 billion) loan to finance the maintenance of nuclear power plants in France. The loan is part of EDF's major refit programme to improve the security and extend the operating life of nuclear reactors beyond 40 years. The deal is the first transaction in which the funds will be entirely dedicated to investments in EDF's nuclear activities, Credit Agricole and EDF said in a statement. ($1 = 0.9630 euros)Reporting by Virginia Furness; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Column: France's muted nuclear recovery can cool Europe's LNG demand
▼ + stars: | 2022-11-17 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

But a slow recovery is now underway in France's nuclear power output. LNG BINGEFrance normally relies on nuclear power for 70% of its electricity. But reactor shutdowns due to maintenance work, labour disputes and reduced availability of cooling water during a summer heat wave forced Europe's third-largest economy to boost LNG imports. Further resumptions in nuclear output going forward could raise total electricity supply back to early-2022 levels and herald the start of a slowdown in French LNG purchases, which have historically fallen off during periods of sustained high French nuclear power output. The group kept its output forecasts for 2023 and 2024 unchanged at 300 to 330 TWh and 315 to 345 TWh respectively, however, indicating confidence of a further rise in nuclear output.

☆ UK raises its windfall tax on energy companies and bets on nuclear power
▼ + stars: | 2022-11-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

It is also investing in nuclear power for the first time in decades. Together, these measures will raise £14 billion ($16.5 billion) next year and more than £55 billion ($65 billion) between 2022 and 2028. “I have no objection to windfall taxes if they are genuinely about windfall profits caused by unexpected increases in energy prices,” Hunt said in parliament on Thursday. The UK's Sizewell B nuclear power station, which is operated by France's EDF. Chris Radburn/AFP/Getty ImagesAs well as hiking energy taxes, Hunt affirmed a £700 million ($824 million) investment into Sizewell C, a nuclear power station operated by France’s EDF in the east of England.

☆ COP27-US targets methane in 'relentless' emissions focus
▼ + stars: | 2022-11-11 | by ( Valerie Volcovici | ) www.reuters.com time to read: +5 min

It would also force methane emissions reductions from flaring equipment and create a system to detect leaks from "super-emitter" sites quickly so operators can repair them faster and local community residents are aware. The EPA said the stronger rules would reduce methane from the oil and gas industry by 87% below 2005 levels and would help the United States to meet its commitment under the Global Methane Pledge to cut methane emissions economy-wide by 30% this decade. OIL AND GAS INDUSTRY LOBBYINGThe oil and gas industry had urged the agency to exclude hundreds of thousands of low-producing wells on the grounds frequent monitoring would be inefficient and costly. It dovetailed with a U.N. announcement on Friday that it will launch a global public database of methane leaks detected by space satellites to encourage companies and governments to plug them. The EPA will take public input on the methane rule until Feb. 13, 2023 and plans to finalize it by the end of that year.

☆ EDF Warns of Lower Output Across Its Nuclear Reactors in France
▼ + stars: | 2022-11-04 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

EDF’s warning of lower expected nuclear-power output in France is a setback to the country’s efforts to ride out Europe’s energy crisis. PARIS— EDF SA warned of lower power generation this year across its nuclear reactors in France, dealing a setback to the country’s efforts to ride out Europe’s energy crisis amid a spell of unseasonably warm weather. EDF, the world’s largest owner of nuclear plants, said its French fleet of reactors are expected to produce between 275 and 285 terawatt-hours of energy in 2022, compared with a previous estimate of between 280 and 300 terawatt-hours.

☆ France’s EDF Warns of Lower Output Across Nuclear Fleet
▼ + stars: | 2022-11-04 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS— EDF SA warned of lower power generation this year across its nuclear reactors in France, dealing a setback to the country’s efforts to ride out Europe’s energy crisis amid a spell of unseasonably warm weather. EDF, the world’s largest owner of nuclear plants, said its French fleet of reactors are expected to produce between 275 and 285 terawatt-hours of energy in 2022, compared with a previous estimate of between 280 and 300 terawatt-hours.

☆ EU gas emissions end post-COVID rise on cleaner supply, energy-saving-study
▼ + stars: | 2022-11-03 | by ( Avi Asher-Schapiro | ) www.reuters.com time to read: +2 min

[1/2] Steam rises from the cooling towers of the coal power plant of RWE, one of Europe's biggest electricity and gas companies in Niederaussem, Germany, March 3, 2016. "The post-COVID rebound in the EU's fossil fuel use and emissions has come to an end in the past few months, due to the growth in clean energy supply led by solar power, and energy saving measures precipitated by the fossil fuel supply crunch," said CREA lead analyst Lauri Myllyvirta. "Clean energy investments and policies have expanded dramatically, which will lead to a sustained and accelerated fall in emissions in the next years." Hydropower generation is now closer to historical averages, and nuclear underperformance should recover, easing Europe's reliance on pollutants, it said. World leaders are expected to discuss increasing clean energy production facilities in emerging countries during the annual United Nations climate summit in Egypt from Sunday.

The United States is among over 100 countries that have pledged to cut their methane emissions 30% by 2030 from 2020 levels. They also say smaller wells often produce only insignificant methane emissions that don't warrant the cost and effort of a monitoring program. The problem, environmentalists say, is that collectively, the smaller wells produce a massive amount of climate-damaging methane. Exempting wells that produce less than 6 barrels per day would effectively exclude more than 80% of those marginal wells from the EPA rule, according to KIOGA. The supplemental ruling could also address the industry's use of flaring, or the deliberate burning of excess natural gas from well sites, which can also lead to methane emissions.

☆ France cuts volume of nuclear power EDF must sell cheaply in 2023
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

The reduction could increase the energy price businesses face. EDF will be required to sell 100 terrawatt-hours (TWH) to rivals at what is known as the Arenh price, determined by the regulator, compared with 120 TWH this year. EDF this year suffered multi-billion euro losses after the government said in January the nuclear producer would have to increase by 20 TWH the volumes it is required to sell cheaply to curb enery costs. "I have said that the decision to raise the volume in 2022 was exceptional," Le Maire told a news conference, "we will therefore go back to 100 TWH in 2023." "We will cover half of the sum exceeding a reference price of 325 euros," Prime Minister Elisabeth Borne told a news conference.

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.

☆ Western economies rediscover meaning of scarcity
▼ + stars: | 2022-10-27 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

Western companies, which outsourced production to China and other emerging markets, found themselves less constrained by their domestic workforces. China’s rising exports lowered the prices of traded goods, dampening inflationary pressures and allowing Western central banks to cut interest rates to their lowest levels in history. In the 1970s, economists worried that fiscal deficits would lead to higher interest rates and lower investment. Western governments now face constraints that are common in developing countries, relating to fiscal policy, inflation and financial stability. To reduce the burden of their war debts, governments in Europe and the United States held interest rates below inflation.

☆ Comeback king: Boris Johnson considering a run for UK prime minister
▼ + stars: | 2022-10-21 | by ( Elizabeth Piper | ) www.reuters.com time to read: +5 min

British Prime Minister Boris Johnson speaks during his visit to EDF's Sizewell B Nuclear power station, in Sizewell, Britain September 1, 2022. Chris Radburn/Pool via REUTERSSummary Johnson taking soundings from lawmakersHad said he wanted a quieter lifeUnder investigation for lying to parliamentLONDON, Oct 21 (Reuters) - Out of power for a matter of months, comeback king Boris Johnson is once again being touted as the new leader of the governing Conservative Party and Britain's prime minister. For some Conservative lawmakers, Johnson is a vote winner, able to appeal across the country not only with his celebrity but also with his brand of energetic optimism. When Johnson left Downing Street, his aides said he was going to embrace a quieter life, no longer being "public property" and able to make more money by going on the speaker circuit. After his successor as prime minister, Liz Truss, quit on Thursday after just six weeks in power, the Ukrainian government Twitter account even published, and then deleted, a meme saying "Better call Boris".

Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.

☆ Twenty French nuclear reactors affected by strike, union says
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 19 (Reuters) - Strikes have affected work at nearly a third of France's nuclear reactors, an FNME-CGT power union representative said on Wednesday, delaying maintenance at many of them ahead of planned talks with operator EDF (EDF.PA). Three of the reactors lowered production by a total of 1.8 gigawatts (GW) by 0837 GMT, EDF data showed. Register now for FREE unlimited access to Reuters.com RegisterPower supply has been further hit in recent weeks as the FNME-CGT union has been staging rolling strikes over wages at some nuclear power plants. FNME-CGT representative Virginie Neumayer told Reuters 20 reactors out of a total of 56 had been affected by the strikes. The start of planned maintenance at the Gravelines 4 and Dampierre 3 sites have been pushed back due to the strikes, and now show their outage start date on Oct. 19.

☆ Factbox: Energy crisis revives coal demand and production
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +6 min

France - The Emile Huchet coal power plant restarted in early October, only six months after it closed, according to local media. Netherlands - Dutch energy minister Rob Jetten said in June the Netherlands will remove a production cap at coal-fired energy plants to preserve gas. In June, it said it plans to "increase thermal coal production from existing mines this year maximum by 1.5 million tonnes". Spain - The ministry for the ecological transition requested in May the delay of Endesa's As Pontes coal power station closure. (** Note that Ukraine's government has stopped releasing coal production data since the start of the war).

Search resuls for: "EDF"

25 mentions found