|Bid||13.71 x 0|
|Ask||14.05 x 0|
|Day's range||14.39 - 14.39|
|52-week range||13.38 - 14.65|
|Beta (5Y monthly)||0.89|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
EDF Energy has extended outages to July at the two reactors at its Britain's Dungeness B nuclear power plant, the company's outage website showed. The two reactors at the plant have been offline since late summer 2018 as the company has been carrying out inspections and maintenance of pipes carrying steam to the turbine. EDF's EDF Energy is also trying to complete repair work on corrosion identified during inspections of safety back-up systems at the plant on the south coast of England.
(Bloomberg) -- France’s decision to shut its oldest nuclear reactor is stirring controversy about whether President Emmanuel Macron is making the right decisions to reduce fossil fuel pollution and meet climate targets.The closure of a 43-year-old unit in Fessenheim on Saturday takes out of service just one of France’s 58 reactors. Macron is encouraging wind and solar farms to play a bigger role in the future, promising to shut more atomic plants toward the end of this decade when they reach a half century in service.Scaling back nuclear, which feeds about 70% of electricity to France’s grid, will probably result in natural gas getting a bigger foothold in what has historically been one of the cleanest power systems in the world. Critics are concerned that scrapping those steady flows for renewables that only work when it’s sunny or breezy will leave France more dependent on fossil fuels at a time when there’s pressure to zero out emissions by 2050.“One can speak of an environmental mistake,” said Florent Nguyen, an energy and utilities expert at Oresys, a French consultant. “Politics has prevailed over environmental emergency as we’ll see an increase in CO2 emissions.”It’s a pattern emerging elsewhere in Europe, which is targeting the power sector as one of the prime ways of reaching a net-zero target by 2050. Germany and Belgium are poised to see a rebound in pollution from plants fired by coal and natural gas. Those fossil fuels will fill a gap on the grid as nuclear plants retire before solar and wind farms reach the needed scale.Retiring the plant at Fessenheim along France’s border with southern Germany already has taken many years. A second reactor there will shut in June. Macron’s predecessor first made the pledge to halt the plant to get the Green party’s support in the 2012 presidential election.A dozen more reactors will halt by 2035 to make room for more solar and wind power, Macron has decided.Germany opted a decade ago to progressively halt its nuclear plants by the end of 2022. Its effort to scrap coal and lignite as power generation fuels will take until 2038. Belgium is considering building gas-fired generators to partly replace its atomic plants due to be halted from 2022.Germany’s decision led to more electricity generated from coal, lignite and gas, “and thus to an increase in CO2 emissions and local pollution, the health effects of which have not been considered,” Claude Crampes and Stefan Ambec, professors at Toulouse School of Economics, wrote this week. It also contributed to higher electricity prices.Macron’s government is confident that halting the two Fessenheim reactors won’t boost emissions in France because the development of renewables is quickening. However, given that France is a net electricity exporter for most part of the year, the nuclear production shortfall may end up boosting emissions in neighboring countries that are more reliant on fossil fuels.Replacing the Fessenheim reactors’ output with coal-fired generation would release 10 million tons of CO2 per year, according to Electricite de France SA. By comparison, France’s entire power sector emitted just 19.2 million tons last year, less than a 10th of Germany’s, as electricity was mainly produced with nuclear and renewables.But burning coal, the dirtiest fossil fuel, is looking less likely in France. Falling gas prices and the rising cost of emission permits displaced some coal generation last year, and France plans to shut down its remaining four coal-fired power stations in the next couple of years.“2019 saw a spike in coal-to-gas fuel switching across Europe,” said Antoine Vagneur-Jones, an analyst at BloombergNEF in London. “It’s fortunate that reactor closures are being carried out at a time when gas is particularly competitive, dampening the resulting upwards pressure on emissions.”The initial plan was to replace the two 900-megawatt reactors at Fessenheim by a 1,650-megawatt atomic plant in Flamanville. Commercial operations of the new facility in western France has been delayed until mid-2023 because of a series of construction issues.As a result, EDF, which operates all of France’s atomic plants, said its nuclear output may fall again this year as it closes the two Fessenheim units, unless it better copes with maintenance halts.“In the next two or three months, we’re going to see a rise in CO2 emissions,” said Nicolas Goldberg, an energy analyst at Colombus Consulting. “In the long term, with the deployment of more renewable energies, energy savings and the exit from coal, I don’t think we’ll have a rise in CO2 emissions, though the climate performance will be slightly weaker than if we had kept Fessenheim.”To contact the author of this story: Francois De Beaupuy in Paris at firstname.lastname@example.orgTo contact the editor responsible for this story: Reed Landberg at email@example.com, Andrew ReiersonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com), Julien Ponthus (firstname.lastname@example.org) in London and Danilo Masoni (email@example.com) in Milan. CLOSING SNAPSHOT: V-DAY OF RECORDS (1640 GMT) Here it comes a good reason to celebrate this Valentine's Day: the STOXX 600 hit record highs today, again!
* STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com), Julien Ponthus (firstname.lastname@example.org) in London and Danilo Masoni (email@example.com) in Milan. A RATE CUT EVERY FIVE DAYS (1405 GMT) When Mexico decided to cut rates yesterday little did they know they'd be the 800th to do so since the global financial crisis (H/T to BofA on the rate cut count).
* STOXX 600 hits fresh record highs * German GDP disappoints * EDF tops STOXX 600 after beating forecast * RBS shares drop after results * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com), Julien Ponthus (firstname.lastname@example.org) in London and Danilo Masoni (email@example.com) in Milan. MUCH LOVE FOR FRANCE ON VALENTINE'S DAY (1157 GMT) If you look at the top movers today, there is an eye-catching French utility topping the pan-European index: EDF - the stock gained more than 9% after the company beat forecasts.
China's announcement of more than 5,000 new coronavirus cases and 121 new deaths indicate the epidemic hasn't peaked yet. A pan-European index is in fact opening at record highs, buoyed by … answers on a postcard. The thinking appears to be the virus impact will not last, it’s not spreading outside China as fast as feared and above all, central banks can step in -- slower growth will bring more stimulus, or at least lower interest rates for longer.
The first Chinese-designed atomic reactor for use in Britain moved a step closer to fruition on Thursday as the UK nuclear regulator said it had completed the third stage of the four stage assessment of the technology. General Nuclear System, an industrial partnership between China General Nuclear Power Corp (CGN) and French utility EDF, hopes to use the design at a nuclear plant planned to be built in Essex, eastern England. Britain's Office for Nuclear Regulation said the HPR 1000 reactor design will now move to the fourth stage of its Generic Design Assessment.
British energy companies will from May 1 be forced to pay automatic compensation to customers facing problems when switching supplier, regulator Ofgem said on Wednesday. Britain has a cap on the most widely used energy bills but Ofgem wants to encourage people to look at switching supplier to see if even more money can be saved. "We are introducing these new standards to give customers further peace of mind, and to challenge suppliers to get it right first time," said Mary Starks, executive director for Consumers and Markets at Ofgem.
Electricité de France S.A. (EPA:EDF) shareholders should be happy to see the share price up 24% in the last quarter...
UK's energy regulator said on Friday the price cap for bills will fall by 17 pounds to 1,162 pounds during the summer, as wholesale energy prices have declined in the last few months. "A strong supply of gas, such as record amounts of liquefied natural gas and healthy gas stock inventories, has been the main factor pushing down wholesale prices," Ofgem said. Ofgem, citing a drop in wholesale prices, lowered the cap last August as well by 75 pounds.
(Bloomberg Opinion) -- Everywhere you look, it seems there’s another ad trying to persuade people that natural gas is the key to a clean energy future. The American Petroleum Institute (API) is running a seven-figure campaign touting its climate benefits, despite the fact that natural gas is a fossil fuel with a significant carbon footprint.The industry conducts misleading campaigns like this one because pressure to reduce greenhouse emissions is building. People are coming to realize that we need a 100% clean economy, and they increasingly want pollution-free energy.To be sure, gas can be lower-emitting than other fossil fuels: For example, gas releases about half as much carbon dioxide as coal during combustion. But natural gas is made of the potent greenhouse gas methane, and methane leaks are far too common across the industry. The result is emissions that can be staggeringly large, threatening to undermine whatever near-term climate advantages gas offered in the first place.And even as the industry promotes natural gas as an eco-friendly alternative to coal, it’s fighting rules to curb those harmful leaks. Groups like the API are championing the Trump administration’s plans to abolish EPA regulations on methane emissions across the oil and gas supply chain, and to remove all federal air pollution rules for pipeline and storage facilities. Together, that could result in 5 million metric tons of methane entering the atmosphere each year — equivalent to the emissions from 109 coal plants. So much for that clean energy future.Fortunately, not everybody wants to roll back the environmental clock. Leading producers like Shell, BP, Equinor, Pioneer and Jonah Energy have indicated opposition to Trump’s proposal, with some even calling for stronger federal regulation. Leading gas customers — more than a dozen electric and gas utilities, including Calpine and Exelon — support the standards, too.But the vast majority of American oil and gas companies, collectively responsible for nearly 90% of total U.S. production, have stayed conspicuously quiet in the face of a rollback that will make their product dirtier.Consider the implications for climate change. Methane from human activities is responsible for more than a quarter of the global warming we’re experiencing today, and the oil and gas industry is responsible for a quarter of that. Each pound of methane released has more than 80 times the warming power of the same amount of carbon dioxide the first 20 years after it is released.That means every company with an interest in natural gas — producers, users, distributors — has a vital stake in reducing methane emissions and supporting the policies necessary to do the job. This includes the electric utilities banking on gas to meet their own climate targets, along with investors in each of these areas.Worldwide, oil and gas companies release an estimated 79 million metric tons of methane each year. A five-year series of studies organized by EDF recently concluded that emissions from the U.S. oil and gas sector were a full 60% higher than EPA estimates. And much of that research predates the massive production boom in the Permian Basin, where research suggests the amount of methane escaping has tripled in just the past two years.Some operators are setting targets and implementing straightforward measures like replacing leaky valves and inspecting more regularly for leaks. But in a fragmented industry with thousands of companies, regulations are essential to raise the bar for everyone.The best science tells us that to have a fighting chance at climate stability, the U.S., European Union and other advanced economies need to reach net-zero greenhouse gas emissions by mid-century, with the rest of the world following soon after. While there are different scenarios for achieving that goal, there’s no doubt industry’s methane pollution must be virtually eliminated.And there’s no doubt it can be done.The International Energy Agency estimates that oil and gas methane emissions can be cut by 75% using technologies available today, and that two-thirds of that can be achieved at no net cost. And according to the IEA, the environmental upside is staggering: Those no-cost reductions alone would have the same climate benefit as immediately shutting all the coal-fired power plants in China.That’s one reason why investors managing more than $5.5 trillion across both sides of the Atlantic have opposed the rollback, and have called on the industry to speak up in support of the U.S. methane rules. A growing number of leading oil and gas firms have acknowledged that methane is a major challenge, but also an important opportunity to demonstrate real, measurable climate progress.The private sector has a critical role to play in opposing rollbacks in the U.S., and supporting new policy in the EU, which has a unique opportunity to leverage its role as a major gas buyer. If oil and gas companies really want to be part of a cleaner global energy future, it’s time for them to step up and support strong methane rules.To contact the author of this story: Fred Krupp at firstname.lastname@example.orgTo contact the editor responsible for this story: Tracy Walsh at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Fred Krupp is the president of Environmental Defense Fund and has guided EDF for three decades.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Jean-Bernard Lévy became the CEO of Electricité de France S.A. (EPA:EDF) in 2014. This analysis aims first to contrast...
Nuclear power generation in France plunged nearly 11 % year-on-year in November to 29.1 terawatt hour (TWh) state-controlled utility EDF said on Friday, citing a high volume of reactor outages. Total output since the start of the year was at 346.5 TWh, down 2.2% compared with the same period last year, the company said. The utility, which operates France's 58 reactors that cover around 75% of French power needs, cut its 2019 nuclear production target on Nov.14 to between 384 TWh and 388 TWh from 390 TWh, due to prolonged outages of its reactors.
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at...
Alongside Npower, the Big Six, which control about 70% of Britain's retail energy market, are Centrica's British Gas , SSE, EDF Energy, Iberdrola's Scottish Power and another E.ON-owned supplier operating under the E.ON brand. British Gas dominates with about 24 million customers. E.ON said on Friday it planned to break up Npower under a 500 million pound ($642 million) restructuring, which a union said could put up to 4,500 jobs at risk.
FRANKFURT/DUESSELDORF, Germany, Nov 29 (Reuters) - German energy group E.ON plans a 500-million-pound ($642 million) break-up of the struggling British Npower division it inherited from Innogy, which unions said could put up to 4,500 jobs at risk. E.ON's plan includes managing Npower's residential and small and medium-size business customers on the same platform as its own, while putting Npower's industrial and commercial customers into a separate business. The rest of Npower will be closed.
French power group EDF, which has faced criticism in Britain over cost over-runs at the Hinkley Point C nuclear project, said it would build a new Scottish windfarm. State-controlled EDF said it would start construction of the 450 megawatt offshore Neart na Gaoithe windfarm in the North Sea, off the coast of Fife.