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ELECTRICITÉ DE FRANCE

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Real-time Euronext Paris  -  11:35 2022-06-24 am EDT
7.726 EUR   +1.52%
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UK Government Delays Decision on EDF's GBP20 Billion Sizewell C Nuclear Station

05/13/2022 | 09:55am EDT

By Jaime Llinares Taboada


The U.K. government has delayed a decision on whether to grant a development consent for the Sizewell C project, a new nuclear power station which Electricite de France S.A. wants to build in the east of England.

In a statement made to the House of Commons on Thursday, Government Minister Paul Scully said the deadline for the decision has been postponed to July 8 from the original date of May 25.

"This is to ensure there is sufficient time to fully consider further information provided by the applicant and interested parties in response to the Secretary of State's post-examination consultation," Mr. Scully said.

The GMB union urged the government to approve the project as soon as possible. "Sizewell C is essential for meeting our energy challenges. We need spades in the ground to keep the lights on and the production lines moving in the medium to long-term," National Officer Charlotte Childs said in a statement.

The construction of Sizewell C is expected to cost around 20 billion pounds ($24.40 billion). The plant will have a generation capacity of 3.2 gigawatts, enough to power around 6 million homes. Back in January, the U.K. government said it would provide GBP100 million in funding to develop the project.

In March, the BBC reported that both the U.K. government and EDF were planning to take a 20% stake each in Sizewell C.


Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT


(END) Dow Jones Newswires

05-13-22 0954ET

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ELECTRICITÉ DE FRANCE 1.52% 7.726 Real-time Quote.-21.77%
GMB CORPORATION 0.00% 729 Delayed Quote.-2.93%
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Sales 2022 80 327 M 84 733 M 84 733 M
Net income 2022 -5 064 M -5 342 M -5 342 M
Net Debt 2022 61 090 M 64 441 M 64 441 M
P/E ratio 2022 -4,08x
Yield 2022 -
Capitalization 28 862 M 30 446 M 30 446 M
EV / Sales 2022 1,12x
EV / Sales 2023 1,05x
Nbr of Employees 163 423
Free-Float 18,5%
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Number of Analysts 16
Last Close Price 7,73 €
Average target price 10,38 €
Spread / Average Target 34,3%
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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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