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ENGIE

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Real-time Euronext Paris  -  05/20 06:29:22 am EDT
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Belgium can extend life of nuclear reactors if it acts soon, watchdog says

01/17/2022 | 02:20pm EDT

BRUSSELS (Reuters) - Belgium's nuclear regulator gave a provisional green light on Monday to extend the life of two of the country's nuclear power reactors and urged the government to make a final decision on the issue in the first quarter of 2022.

Belgium's seven-party coalition has been wrestling for months over the topic. The Greens are adamant a 2003 law setting out a nuclear exit by 2025 be respected, but the French-speaking liberals favour extending the life of the two newest reactors.

Belgium's two nuclear plants, with seven reactors in total, are operated by French utility Engie and account for almost half of the country's electricity production.

Ministers settled on a compromise in December whereby the last existing nuclear power plant should close in 2025 as long as it did not lead to energy supply shortages.

The Federal Agency for Nuclear Control said in a report for the government that updates to the installations would be required to extend the life of the Tihange 3 and Doel 4 reactors and that the government should order the start of planning for this by the end of January.

An extension should be for at least 10 years, the watchdog said.

The government has said it will take a clear decision in mid-March after guidance from electricity grid operator Elia on whether Belgium's nuclear phase-out would threaten the energy supply.

Prime Minister Alexander De Croo has said it is possible that certain nuclear reactors could be left to operate longer, but added this was "very unlikely".

The planned nuclear exit is to begin with the closure of one reactor on Oct. 1, 2022. Decommissioning, including the removal of all radioactive materials and demolition of buildings, is to be completed by 2045.

(Reporting by Philip Blenkinsop; Editing by Paul Simao)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENGIE 2.15% 12.742 Real-time Quote.-4.15%
ON SEMICONDUCTOR CORPORATION 0.43% 56.07 Delayed Quote.-17.45%
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Financials
Sales 2022 60 676 M 64 241 M 64 241 M
Net income 2022 3 906 M 4 136 M 4 136 M
Net Debt 2022 21 844 M 23 127 M 23 127 M
P/E ratio 2022 7,72x
Yield 2022 8,10%
Capitalization 30 190 M 31 964 M 31 964 M
EV / Sales 2022 0,86x
EV / Sales 2023 0,87x
Nbr of Employees 154 364
Free-Float 72,4%
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Number of Analysts 18
Last Close Price 12,47 €
Average target price 16,54 €
Spread / Average Target 32,6%
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Managers and Directors
Catherine MacGregor Chief Executive Officer & Director
Pierre-François Riolacci Group Executive Vice President-Finance
Jean-Pierre Clamadieu Chairman
Yves Le Gélard Chief Information & Digital Officer
Shankar Krishnamoorthy EVP-Strategy Innovation & Industrial Development
Sector and Competitors
1st jan.Capi. (M$)
ENGIE-4.15%31 964
NATIONAL GRID PLC13.89%55 028
SEMPRA ENERGY22.38%50 883
ABU DHABI NATIONAL ENERGY COMPANY PJSC-1.52%39 794
PUBLIC SERVICE ENTERPRISE GROUP, INC.1.41%33 785
ELECTRICITÉ DE FRANCE-16.00%32 813