EDF: the decline in nuclear production will weigh more than expected on Ebitda 2022 | Photo credits: ©EDF – BAILLAIS VINCENT
PARIS (Agefi-Dow Jones)–The energy company EDF raised Thursday to 18.5 billion euros its estimate of the negative effect that the decline in nuclear production in France will have on its gross surplus this year. operating (Ebitda).
At the beginning of May, based on market prices as of April 21, 2022, EDF had estimated the negative effect of the drop in nuclear production in France at 14 billion euros on its Ebitda for the financial year in course, against an estimate of 16 billion euros communicated in March.
EDF on Thursday lowered its forecast for nuclear production in France for 2022 to 280-300 terawatt hours (TWh), against 295-315 TWh previously.
EDF’s production is limited by shutdowns linked to a program of inspections and repairs to pipes potentially affected by a phenomenon of stress corrosion detected on several reactors last year. Currently, 12 nuclear reactors out of the 56 owned by EDF are shut down. “At this stage for 2022, EDF considers that it is not necessary to anticipate new reactor shutdowns,” the group said in a press release.
The decrease in nuclear production in France penalizes the Ebitda of EDF, which must make compensation purchases on the wholesale markets in a context of sharp rise in prices.
As a result of this corrosion phenomenon, nuclear electricity production in France stood at 91.7 TWh in the first quarter, down 7.5 TWh year on year.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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May 19, 2022 01:29 ET (05:29 GMT)