EDF, the French state-owned energy giant, has reported a significant turnaround in its financial performance, swinging back to a profit of EUR 10 billion in 2023 after a record loss of EUR 17.9 billion in 2022, thanks to a rebound in nuclear power output of 41.4 TWh and higher power prices. However, the company is facing challenges in negotiating long-term contracts with industrial customers due to falling electricity prices, which could threaten its long-term financial stability and its ability to maintain its aging nuclear plants. Additionally, EDF is in discussions with the UK government regarding the long-term financing of its Hinkley Point C nuclear plant, which is still under construction, and has booked a EUR 12.9bn charge related to its UK operations.
EDF returns to profit as nuclear power output surges https://t.co/I7jVWw0dl2 https://t.co/eCHCryzSCb
EDF confident of UK compromise as it reveals €12.9bn Hinkley Point hit https://t.co/oRV1k9Ogfp
EDF is in talks with the UK government over the “long-term financing” of its Hinkley Point C nuclear plant still in construction https://t.co/IZ8fDhuJJd
💵 The French energy giant behind Hinkley Point C has made a €10bn (£8.5bn) profit amid a row over funding for the troubled British nuclear power project https://t.co/fKjzd7j9a0
#France's EDF struggles to seal long-term power deals due to low prices https://t.co/ov8dzf3hrw
🇫🇷☢️EDF results swing to EUR 10bn profit on nuclear recovery French utility EDF’s net profit jumped to EUR 10bn last year thanks largely to higher nuclear power output, compared with a historical EUR 17.9bn loss in 2022. This “exceptional” recovery was driven by a 41.4 TWh…
France's EDF returns to profit in 2023, books charge for UK ops https://t.co/Be89Ude6mF https://t.co/tQJI8Ge9hq
France's EDF swings back to profit after a record loss in 2022 as the state-owned company benefited from rebounding nuclear output and higher power prices https://t.co/haSdWthrIu
Falling power prices threaten debt-laden EDF's revival https://t.co/SJMbTZDTcx https://t.co/3TTVqjnOAf
Falling electricity prices are slowing EDF's negotiations with industrial customers for long-term contracts, four sources and experts say, threatening the debt-laden energy group's long-term finances and ability to keep its aging nuclear plants running https://t.co/BzReWUYnem