French EDF Faces €29B Hit to Profits Resulting from Nuclear Output Decline

France's state energy firm EDF announced Friday that the estimated impact of the decline in France's nuclear output on profits could reach €29 billion.

Almost 26 of EDF's 56 reactors are currently offline due to maintenance or corrosion risks on emergency cooling systems, some of which have been delayed due to the Covid-19 pandemic.

The company now estimates that nuclear output in France for 2022 will be at the lower end of the 280-300 terawatt-hours (TWh) range and, 'the estimated impact of the decline in nuclear output on EBITDA for 2022 compared to 2021 is reassessed at around -29 billion euros.'

The nuclear output estimate for 2023 has been confirmed at 300-330 TWh and 315-345 TWh for 2024, the company said.

Five of the reactors are projected to come online this month, another five next month and seven in November, EDF Executive Director Cedric Lewandowski was quoted as saying by international media outlets. The rest is expected to restart by February.

(Anadolu Agency, September 16, 2022)

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