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    French utility EDF's hole grows to 29 billion euros due to shutdowns of several nuclear power plants


    September 16, 2022 - CE Noticias Financieras

     

      The French energy company has indicated that its 2022 accounts will reflect a negative impact of E29 billion. This is an increase of 5 billion compared to the impact forecast in July, when it published its quarterly accounts. In May, the company had forecast a financial impact of 18.5 billion. The financial impact is due to the fact that the production of its nuclear power plants will be lower than expected because of these shutdowns. In May it reported that it expected nuclear production of between 280 and 300 terawatt hours (TWh). This Thursday, it has indicated that production will ultimately be closer to 280 than 300. At the beginning of the year, EDF expected to produce a range of between 295 and 315 TWh. By 2023, the company expects to produce nuclear power worth between 300 and 330 TWh, while forecasts for 2023 are between 315 and 345 TWh.

      EDF currently has 32 of its 56 reactors in France shut down for maintenance. The company expects to restart 27 of them by December, while the other five are expected to be back in operation between January and mid-February 2023.

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