EDF recorded a historic loss of 17.9 billion euros in 2022, increasing its debt to an equally record level of 64.5 billion euros, at the end of a dark year weighed down by the setbacks of its nuclear fleet but also its forced contribution to the “tariff shield” of the French.
EDF recorded a historic loss of 17.9 billion euros in 2022, increasing its debt to an equally record level of 64.5 billion euros, at the end of a dark year weighed down by the setbacks of its nuclear fleet but also its forced contribution to the “tariff shield” of the French. Its turnover increased by 70%, to 143.5 billion euros, driven by the rise in energy prices, but the group went into the red with a very heavy net loss, against a profit of 5 .1 billion in 2021.
EDF has seen the return of many French customers
With the general surge in electricity prices, EDF saw many French customers return, but the operating margin suffered from purchases at exorbitant prices to cover their needs. “Despite a strong increase in turnover supported by electricity and gas prices, EBITDA is strongly penalized by the drop in nuclear production as well as the exceptional regulatory measures put in place in France for 2022, in difficult market conditions”, commented Thursday for some journalists the CEO Luc Rémont.
On the other hand, the manager confirmed “the nuclear production range of 300 to 330 TWh (in 2023), i.e. a gradual exit from the stress corrosion crisis” noted on portions of the pipes, which had shut down many reactors since the end of 2021.