Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Electricité de France S.A.
  6. News
  7. Summary
    EDF   FR0010242511

ELECTRICITÉ DE FRANCE S.A.

(EDF)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

What happened at China's Taishan nuclear reactor?

06/15/2021 | 04:58am EDT
FILE PHOTO: The logo of Electricite de France (EDF) is seen on a building in the financial district of La Defense, near Paris

(Corrects name of regulator to National Nuclear Safety Administration, not China Nuclear Safety Administration in para 8)

SHANGHAI, June 15 (Reuters) - French energy company EDF is investigating a potential issue linked to a build-up of inert gases at its nuclear plant in China's southeastern province of Guangdong.

The probe comes after CNN reported that the U.S. government was assessing a report of a leak at the Taishan power station. The report was made by Framatome, the EDF business that designed the plant's reactor and remains involved in its operations.

Framatome warned that the plant, a joint venture with China General Nuclear Power Group (CGN) that is located around 200 kilometers from Hong Kong, was facing an "imminent radiological threat."

Here is what we know so far.

WHAT HAPPENED AT TAISHAN?

According to CNN, U.S. officials have been investigating the Framatome claims of a leak for the past week.

EDF, which has a minority stake in the plant, said a build-up of krypton and xenon - both inert gases - had affected the primary circuit of Taishan Unit 1, but added that it was a "known phenomenon, studied and provided for in the reactor operating procedures."

Majority owner CGN also said in a statement that operations at the plant met safety rules.

Radiation levels in the vicinity were still normal on Monday, according to real-time data from the National Nuclear Safety Administration (NNSA).

According to CNN, Framatome's warning included an accusation that NNSA was raising acceptable radiation limits outside the Taishan plant to avoid having to shut it down.

The regulator did not immediately respond to requests for comment. Foreign ministry spokesman Zhao Lijian told reporters in a regular briefing the plant was fully compliant with all requirements and operating normally.

WHAT ARE THE RISKS?

Nuclear experts have generally played down the risks. CNN cited U.S. officials as saying that the dangers to the public were currently minimal.

Li Ning, a Chinese nuclear scientist based in the United States, told Reuters that CNN was "making a mountain out of a molehill" and that it was unrealistic to expect "zero failure" in the fuel cladding of nuclear projects anywhere in the world.

Li said the media were "often unwilling to put risks into proper perspective," which he said had effectively killed off the nuclear industry in the west.

"Coal fired power plants can emit and discharge more radioactivity than nuclear power plants," Li said.

WHY IS THE U.S. GOVERNMENT INVOLVED?

CGN, China's largest state-owned nuclear company, was placed on a U.S. blacklist in Aug. 2019 for allegedly making efforts to acquire advanced U.S. technology and material for diversion to military uses in China.

That means that Framatome, which has operations in the United States, would need a waiver from the U.S. government to allow it to help CGN fix technological problems, Li said.

China's foreign ministry has said the blacklist is a misuse of export control measures.

WHAT IS TAISHAN'S SAFETY RECORD?

Minor safety issues have been quite frequent at Taishan. In March, inspectors checking a faulty voltmeter in Unit 1 accidentally caused an electrical malfunction that triggered an automatic shutdown, according to NNSA incident records.

In April, a burst of radioactive gas unexpectedly entered a pipe at Unit 1's waste gas treatment system just as workers were trying to seal it, also triggering an alarm, NNSA said.

WHAT IS AN "EPR"?

Formerly known as a "European Pressurised Reactor," the EPR is a "third-generation" nuclear technology that includes enhanced safety features as well as greater generation capacity.

It was designed by Framatome together with Germany's Siemens. Its third-generation rivals now include Westinghouse's AP1000, Russia's VVER-1200 and China's Hualong One.

In 2006, EDF and fellow French nuclear group Areva lost a bid to build four reactors on China's eastern coast, with China opting for Westinghouse's model after signing a deal to transfer core technology for use in its own projects.

In 2007, EDF agreed to build two EPRs at Taishan, which would be 70%-owned by CGN. Construction got underway in 2010. Originally scheduled to be connected to the grid within four years, the first unit wasn't completed until December 2018.

WHAT NEXT?

EDF did not provide a timeframe for completion of its investigation, nor did U.S. officials, according to the CNN report.

Problems at the Taishan project are unlikely to dent China's nuclear ambitions, but they underscore the challenges facing foreign reactor developers in a market increasingly dominated by domestic players.

China fell short on its 2020 nuclear capacity target. Many complained the sector's expansion was derailed not only by the 2011 Fukushima disaster, but also by the lengthy delays and spiraling costs at foreign-designed projects.

As it steps up the construction of new plants, China is now expected to depend primarily on its own third-generation Hualong One design, but it is also helping to finance the construction of an EPR project at Britain's Hinkley Point. (Reporting by David Stanway; Additional reporting by Muyu Xu in Beijing; Editing by Jane Wardell and Muralikumar Anantharaman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CGN POWER CO., LTD. 0.59% 1.71 End-of-day quote.2.40%
ELECTRICITÉ DE FRANCE S.A. 1.12% 10.85 Real-time Quote.-16.79%
SIEMENS AKTIENGESELLSCHAFT 0.33% 134.42 Delayed Quote.14.02%
All news about ELECTRICITÉ DE FRANCE S.A.
01:08aELECTRICITE DE FRANCE S A : EDF Recommends Closing Reactor in Taishan Power Plan..
MT
07/22ELECTRICITE DE FRANCE : EDF suggests China should halt nuclear reactor after pro..
RE
07/22ELECTRICITE DE FRANCE : EDF's communication regarding the Taishan Nuclear Power ..
PU
07/22SHAREHOLDERS' GENERAL MEETING OF 22 : all the resolutions were adopted
PU
07/22EDF : SHAREHOLDERS' GENERAL MEETING OF 22 JULY 2021: All the resolutions were ad..
GL
07/20ELECTRICITE DE FRANCE : Fitch Keeps Negative Outlook On EDF Amid Aging Nuclear F..
MT
07/19WÄRTSILÄ OYJ : Wärtsilä Wins Supply Contract For EDF Renewables Unit's Energy Pr..
MT
07/13ELECTRICITE DE FRANCE : EDF opens an office in Warsaw dedicated to the preparati..
PU
07/12ELECTRICITE DE FRANCE : French regulator proposes 0.48% hike in retail power pri..
RE
07/12MARKET CHATTER : France's EDF in Talks with UK Ministers Over Post-Brexit Immigr..
MT
More news
Financials
Sales 2021 72 370 M 85 216 M 85 216 M
Net income 2021 3 061 M 3 604 M 3 604 M
Net Debt 2021 48 385 M 56 974 M 56 974 M
P/E ratio 2021 12,3x
Yield 2021 3,40%
Capitalization 33 875 M 39 913 M 39 888 M
EV / Sales 2021 1,14x
EV / Sales 2022 1,13x
Nbr of Employees 161 203
Free-Float 16,8%
Chart ELECTRICITÉ DE FRANCE S.A.
Duration : Period :
Electricité de France S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ELECTRICITÉ DE FRANCE S.A.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 10,73 €
Average target price 14,68 €
Spread / Average Target 36,8%
EPS Revisions
Managers and Directors
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Christophe Salomon Group Chief Information Officer
Colette Lewiner Independent Director
Laurence Parisot Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ELECTRICITÉ DE FRANCE S.A.-16.79%44 020
NATIONAL GRID PLC6.19%45 657
SEMPRA1.34%41 621
ENGIE SA-9.62%33 569
E.ON SE13.31%30 639
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED3.28%30 235