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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Electricité de France    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

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Electricite de France : EDF Energy to end power generation at Cottam coal plant in Britain

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02/07/2019 | 05:38am EDT
An employee carries an umbrella with the EDF energy logo near the Hinkley Point C nuclear power station near Cannington in southwest England

LONDON (Reuters) - EDF Energy, part of French utility EDF, will cease power generation at its Cottam coal-fired power plant in Nottinghamshire, Britain, on Sept. 30, as it will no longer be economically viable to run, the company said on Thursday.

The 2-gigawatt (GW) plant has been running for more than 50 years, but was designed to operate for 30 when it as built.

"Today's decision reflects the challenging market conditions over the last few years and the context of the drive to decarbonise electricity generation," it said in a statement.

EDF Energy said it will support its 158 workers at the Cottam plant through the closure process. In 2017, it helped 19 people to move to alternative roles within the company and a further 22 will be moving into other roles in the coming months.

EDF Energy operates the Cottam and the 2-GW West Burton A coal power stations in north Nottinghamshire.

West Burton A has power capacity agreements in place for three of its four units until the end of Sept. 2021, which pay energy suppliers to ensure there is enough electricity generation capacity to meet peak demand.

"EDF Energy is committed to honouring these agreements and will review the future of that station beyond that date," the company said.

(Reporting by Nina Chestney; Editing by Jan Harvey and David Evans)

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ChangeLast1st jan.
ELECTRICITÉ DE FRANCE -0.60% 12.385 Real-time Quote.-9.67%
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Financials (€)
Sales 2019 71 124 M
EBIT 2019 6 621 M
Net income 2019 2 643 M
Debt 2019 37 818 M
Yield 2019 2,85%
P/E ratio 2019 15,70
P/E ratio 2020 12,51
EV / Sales 2019 1,07x
EV / Sales 2020 1,06x
Capitalization 38 230 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 15,0 €
Spread / Average Target 18%
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Managers
NameTitle
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Senior Executive Vice President-Group Finance
Christophe Salomon Head-Information Systems
Bruno Lafont Director
Jacky Chorin Director
Sector and Competitors
1st jan.Capitalization (M$)
ELECTRICITÉ DE FRANCE-9.67%42 645
ENGIE3.99%36 228
NATIONAL GRID PLC8.48%36 136
SEMPRA ENERGY16.57%34 580
ORSTED AS14.23%31 429
E.ON SE11.31%24 241