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    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

(EDF)
  Report
Real-time Euronext Paris  -  11:35 2022-10-05 am EDT
11.93 EUR   -0.25%
12:58pEDF announces the success of its senior multi-tranche bond issue, including a green tranche, for a nominal amount of 3 billion euros
GL
12:58pEDF announces the success of its senior multi-tranche bond issue, including a green tranche, for a nominal amount of 3 billion euros
GL
12:48pItaly's Edison seen in play as parent EDF nationalised
RE
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Britain signs up old coal units as back-up in case of winter power crunch

08/18/2022 | 11:52am EDT

LONDON, Aug 18 (Reuters) - Britain is turning to old coal-fired power units as a "last resort" in case other sources cannot provide enough electricity through the winter as the country faces a wider energy crisis.

Several European governments have requested that back-up power be made available from idled coal plants or those due to close due to lower gas flows from Russia as a result of disputes triggered by its invasion of Ukraine.

Britain's National Grid said on Thursday it had signed contracts with power generators Drax Group and EDF to extend the life of four coal-fired power units at two plants for the upcoming winter.

The available capacity will only be used a last resort to ensure security of supply if needed, National Grid's Electricity System Operator (ESO) said, adding that negotiations continue with a third generator for a fifth coal unit.

"These contracts are only intended to be used when all commercial options have been exhausted within the Balancing Mechanism," the ESO said.

A total of 1,940 megawatts (MW) will be made available from two coal units at EDF Energy's West Burton A plant, which were due to close this September and two at Drax's plant in Yorkshire, which ceased commercial operations last year.

The rest at Drax's plant have been converted to biomass.

The ESO said the upfront cost is expected to be between 220 million pounds and 420 million pounds and the coal-fired units will be available until the end of March 2023. (Reporting by Nina Chestney in London and Amna Karimi in Bengaluru; Editing by Krishna Chandra Eluri and Alexander Smith)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DRAX GROUP PLC -2.19% 558.5 Delayed Quote.-5.62%
ELECTRICITÉ DE FRANCE -0.25% 11.925 Real-time Quote.21.04%
NATIONAL GRID PLC -0.71% 924.8 Delayed Quote.-12.12%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.24% 59.75 Delayed Quote.-22.58%
All news about ELECTRICITÉ DE FRANCE
12:58pEDF announces the success of its senior multi-tranche bond issue, including a green tra..
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12:58pEDF announces the success of its senior multi-tranche bond issue, including a green tra..
GL
12:48pItaly's Edison seen in play as parent EDF nationalised
RE
12:29pEDF Says Alexis Zajdenweber Appointed as Director Representing the French State
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12:01pAppointment to the EDF Board of Directors
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09:47aEDF, Engie, TotalEnergies Sign Charter to Aid Companies in Energy Contract Renewals
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08:40aFactbox-Government measures to ease inflation pain
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04:06aFrench Finance Minister: we have total confidence in new board o..
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03:59aFrance sees EU power price clawback generating up to 7 bln euros
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02:49aFrench gas storage facilities 99% full ahead of winter - regulator
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Analyst Recommendations on ELECTRICITÉ DE FRANCE
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Financials
Sales 2022 86 828 M 85 604 M 85 604 M
Net income 2022 -10 856 M -10 703 M -10 703 M
Net Debt 2022 69 222 M 68 246 M 68 246 M
P/E ratio 2022 -3,71x
Yield 2022 -
Capitalization 44 549 M 43 921 M 43 921 M
EV / Sales 2022 1,31x
EV / Sales 2023 1,22x
Nbr of Employees 163 423
Free-Float 14,8%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 11,96 €
Average target price 11,93 €
Spread / Average Target -0,18%
EPS Revisions
Managers and Directors
Jean-Bernard Levy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Laurence Parisot Independent Director
Claire Pédini Independent Director
Bruno Crémel Independent Director
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