[ad_1]
French energy big EDF stated Thursday a drop in nuclear energy era in France and a state-imposed cap on vitality costs pushed it right into a report loss within the first six months of 2022.
EDF stated in an announcement that it booked a bottom-line lack of 5.3 billion euros ($5.4 billion) from January to June from the online revenue of 4.2 billion euros in the identical interval a 12 months earlier.
At an underlying stage, too, income plunged, with earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) dropping by 75% to 2.7 billion euros.
Then again, gross sales grew by 67% to 66.3 billion euros within the six-month interval.
“The outcomes for the primary half of the 12 months replicate the difficulties encountered in nuclear era in France and, to a lesser extent, in hydropower era, in addition to the impact of the tariff defend launched in France in 2022,” stated chief government Jean-Bernard Levy.
The revenue slide was largely attributable to “the drop in nuclear output linked to the phenomenon of stress corrosion, by the impression of the distinctive regulatory measures adopted by the French authorities to restrict the rise in costs to customers in 2022”, Levy stated.
“These occasions have pressured the group to buy electrical energy in a context of excessive market costs,” he stated.
[ad_2]
Source link
