Latest news with #ElectricitedeFranceSA
Bloomberg
01-05-2025
- Business
- Bloomberg
French Power Plunges as Jump in Solar Forces Nuclear Cutbacks
French power prices again tumbled below zero as solar energy swamped the grid, forcing the country's vast nuclear fleet to slash output. Intraday prices sank as low as minus €68.42 a megawatt-hour Thursday as a flood of solar energy coincided with a slump in demand as people stayed off work for the May Day holiday. Electricite de France SA sought to balance supply by cutting atomic generation to the lowest in a year.
Bloomberg
21-03-2025
- Business
- Bloomberg
France Replaces EDF CEO as Business Furor on Power Cost Mounts
The French government said Electricite de France SA Chief Executive Officer Luc Remont is stepping down as the state-owned utility faces increasing complaints from large industrial clients over the cost of electricity. President Emmanuel Macron is considering appointing Bernard Fontana, the senior executive vice president in charge of the company's Industry and Services unit, as the new Chairman and CEO, the president's office said in a statement Friday.
Bloomberg
17-03-2025
- Business
- Bloomberg
France Delays Target for New Nuclear Reactor Startup to 2038
The French government has asked Electricite de France SA to accelerate efforts to finalize its plans to build six new nuclear reactors, while delaying the target date for the start of the first unit by about three years to 2038. State-owned EDF must 'amplify actions' to present a binding cost and timetable assessment for the project, President Emmanuel Macron's office said in a statement following a nuclear policy meeting on Monday. The utility's final investment decision for the project should take place next year, the statement added.
Times of Oman
24-02-2025
- Business
- Times of Oman
Coal India forms joint venture with French subsidiary company for renewable energy projects
New Delhi: Coal India Limited signed an agreement with EDF India Private Limited to form a joint venture. The joint venture will undertake PSP projects along with other renewable energy projects in India and neighbouring countries, Coal India said in a stock exchange filing. EDF India Private Limited is a wholly-owned subsidiary of Electricite de France SA (EDF). Electricite de France SA is an energy solutions providing company. The two firms - Coal India and EDF India -- have executed the Non-Binding Shareholders Agreement (SHA) term sheet on Sunday, the Indian PSU company informed stock exchanges in the filing.
Bloomberg
21-02-2025
- Business
- Bloomberg
EDF Profit Falls as Power Prices Retreat and Income Taxes Climb
Electricite de France SA said profit fell last year as European wholesale power prices retreated while income taxes rose, and warned earnings may slide further in 2025. EDF posted record results for 2023, but it's since borne the brunt of slumping prices as sluggish economic growth weighs on demand. Regulated tariffs in France were also cut this month, damping the outlook for this year. Meanwhile, EDF is facing soaring expenditure for nuclear projects at home and in the UK.
