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    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

(EDF)
  Report
Real-time Euronext Paris  -  10:07 2022-10-06 am EDT
11.94 EUR   +0.13%
09:58aEUROPE POWER-Spot prices lifted by falling wind supply
RE
09:15aVestas Secures Deal to Supply Turbines for Shell, EDF Partnership
MT
07:06aWorkers' Strikes Hit EDF's Nuclear Power Generation, Hydropower Output in France
MT
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EUROPE POWER-Curve mixed in afternoon after quarterly contract records

08/08/2022 | 11:00am EDT

FRANKFURT, Aug 8 (Reuters) - Europe's power curve on Monday afternoon was mixed after some quarterly contracts for 2023 had set record highs on a mix of Russian gas and French nuclear concerns combined with bullish short-term weather factors.

German baseload supply for second-quarter 2023 was up 1.9% at 367 euros ($374.49) a megawatt hour (MWh) at 1445 GMT, below an earlier record of 375 euros, while third-quarter 2023 was still at its highest ever at 374.1 euros, up 3.3% .

French second-quarter 2023 and third-quarter 2023 positions were at all-time highs of respectively 349.5 euros, up 7.5% , and 338 euros, up 7.3%.

But annual French delivery for 2023 remained untraded and the equivalent German contract, Cal '23 baseload, lost 0.7% to 407 euros, having hit 415 euros earlier.

Russian gas exports via the Nord Stream 1 pipeline into Germany, and those through Ukrainian pipelines were steady on Monday while the overall prospect of scarcity this winter remains in place after Russia curtailed shipments.

France's regulator extended temporary waivers allowing five power stations to continue discharging hot water into rivers as the country contends with a fourth heatwave of the summer.

Hot and dry weather has also curbed river levels, hampering the transport of coal to power plants as barges cannot sail fully-laden.

The French Gravelines 2 and 5 reactors will end their current outages four and 7 days later respectively, on Aug. 18 and 21, EDF reported.

Spot power prices were below those at the end of last week on forecasts for more German wind power supply.

German Tuesday baseload traded at 356 euros, 7.6% below the price of Monday delivery. French day-ahead baseload, at 361 euros, was down 7.9%.

Germany will likely produce 6.4 gigawatts (GW) of wind power on Tuesday, 2.4 GW more than on Monday, Refinitiv Eikon data showed.

Power usage in Germany is set to rise by 1.4 gigawatts (GW) to 54.8 GW on Tuesday and in France will edge up by 200 MW to 43 GW.

($1 = 0.9800 euros) (Reporting by Vera Eckert and Forrest Crellin, editing by David Evans)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 0.13% 11.94 Real-time Quote.20.74%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.83% 61.671 Delayed Quote.-21.25%
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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 -3,70x
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 11,93 €
Average target price 11,93 €
Spread / Average Target 0,07%
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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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