Engie galvanized by soaring energy prices

Engie is not EDF. There are commonalities, however: the two companies are active in the energy sector, the French State is present in their capital, and their turnover soared during the first half of 2022. But EDF lost 5.3 billion euros over the period, when Engie earned 5 billion.

The group is taking full advantage of soaring energy prices, particularly gas, in which it is a major player in France. Two levers explain three quarters of the increase in operating income. First, the performance of Engie’s “trading” activity, which benefited from the enormous volatility of energy prices to carry out winning arbitrages. Secondly, the energy company benefits from the performance of its nuclear power plants in Belgium, which “achieved a high level of availability of 85% “, he specifies, and a high selling price, at 95.6 euros per MWh, against 47.1 euros the previous year. In this respect, Engie…