France / EDF Issues Fifth Profit Warning As Nuclear Generation Falls 37% In August

Unprecedented number of reactors remain offline
EDF Issues Fifth Profit Warning As Nuclear Generation Falls 37% In August
Nuclear power generation at EDF’s French nuclear power reactors in August fell by 37.6% year on year to 18.1 TWh, mainly due to the impact of the discovery of stress corrosion, the state utility said.

EDF said total nuclear generation in France since the start of the year was 191 TWh, down 20.2% compared with January-August 2021.

The company said estimated nuclear generation for the year will be 280-300 TWh. This represents a further cut its nuclear output forecast for this year with the lower production expected to result in a €29bn fall in core earnings in 2022. The profit warning was the company’s fifth this year.

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