EDF shares soar on hopes for restructuring deal April 27, 2021 EDF shares shot up by more than five per cent this morning following reports that Paris and Brussels were nearing a deal to restructure the energy group by the end of next month. Negotiations over how to separate EDF’s nuclear arm and to fix its energy prices for third parties have dragged on for months, [...]
EDF to sell Nottinghamshire power plant to investor EIG April 12, 2021 EDF will sell its West Burton B power plant to investor EIG for an undisclosed sum, the firm has revealed. The Nottinghamshire plant was commissioned in 2013 and consists of three combined cycle gas turbine units with enough electricity for around 1.5 million UK homes. Both parties aim to complete the deal, which includes a [...]
Phase out: UK to have just one coal-burning plant as EDF eyes West Burton closure March 22, 2021 UK to have just one coal-burning plant as EDF eyes West Burton closure
Hinkley Point C delayed by six months due to pandemic January 27, 2021 The start of electricity generation at Hinkley Point C in Somerset has been pushed back six months to June 2026, it was announced today. The project is now estimated to cost between £22bn and £23bn, more than previous estimates of £21.5bn – £22.2bn. French giant EDF, which is building the new nuclear power plant, said [...]
EDF to slash €500m in costs amid €3bn asset sales July 30, 2020 French energy giant EDF plans to cut operating costs by €500m up to 2022 and to generate €3bn from asset sales to combat slipping profits, it said today. EDF reported a fall in net profit in the first half of 2020 due to the coronavirus outbreak. Before the Open: Get the jump on the markets [...]
Hinkley Point C construction continues apace with completion of reactor base June 1, 2020 Construction at Hinkley Point C nuclear power station in Somerset remains on track despite the coronavirus crisis, with contractors today meeting a key milestone in the building of the new plant. With work continuing under special coronavirus measures, workers at the plant have completed the 49,000 tonne base for the second nuclear reactor, meeting a [...]
EDF submits planning application for Sizewell C nuclear power station May 27, 2020 EDF has this morning submitted an application to build the new Sizewell C nuclear power plant on the Suffolk coast to the Planning Inspectorate. The plant, which the French firm is developing in partnership with China’s state-owned nuclear company CGN, will be a near replica of Hinkley Point C in Somerset. Upon completion, the power [...]
Coronavirus: EDF to furlough Hinkley Point workers after reducing site numbers March 29, 2020 Hundreds of workers at EDF’s Hinkley Point C nuclear plant are being furloughed after the firm decided to cut the number of workers on site by more than half. In an attempt to cut costs, the Telegraph reported that many of the site’s workers are being moved onto the government’s employee retention scheme, which guarantees [...]
EDF smashes expectations as renewables arm goes from strength to strength February 14, 2020 EDF Energy smashed analyst expectations today as the French utilities giant enjoyed a strong performance from its renewable energy business. The figures The firm’s profit for 2019 was €5.2bn (£4.3bn), almost five times larger than the €1.1bn it posted in 2018. Analysts had predicted a profit of €3bn. Revenue rose four per cent to €71.3bn, [...]
EDF Energy purchases electric vehicle charging start-up Pivot Power November 4, 2019 French energy giant EDF Energy has bought UK electric vehicle charging and battery storage start-up Pivot Power as it continues its push into the renewables sector. The move will allow state-owned EDF, which is already the biggest low carbon electricity producer in the UK, to push into the battery storage market. Read more: EDF Energy [...]