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...“If EDF loses money, then we lose money.”...
...At EDF, chief executive Luc Rémont is open to a price-ceiling solution, people familiar with the matter said....
...State-owned EDF swung back to profit in 2023 with €10bn, it reported on Friday, after record losses in 2022 following outages at its reactors in France....
...C plant, for which Britain and EDF are seeking new investors....
...Hinkley Point C, the EDF nuclear plant under construction in the UK....
...EDF is examining whether the decommissioning of other plants can be delayed. Lengthy extensions are unlikely given their age, however....
...This would allow EDF to finance some investments itself without even more debt or state help....
...EDF is also hoping to build another new plant in Suffolk adjacent to Sizewell B....
...The government has committed £1.2bn and taken a 50 per cent stake alongside EDF in the company set up to deliver the plant....
...“EDF is looking at ways the British government might be able to help but these discussions could take time.”...
...S&P rates EDF as BBB compared with AA for French government bonds....
...EDF is France’s dominant power provider and producer, with a fleet of 56 reactors that also export power across Europe....
...Its partner EDF has no obligation to put more money in....
...EDF, which declined to comment, has been pressing the British government to help it fund cost overruns on Hinkley Point C....
...EDF’s junior investment partner on the project, CGN of China, had agreed to finance 33.5 per cent of the original cost....
...Rémont argues that parallel projects (the state-owned group is bidding for projects in India and the Czech Republic) would help EDF become better and faster. There are other challenges....
...The EU could go further by inviting other bilateral or multilateral agencies to join in on the EDF initiative....
...Sizewell C is being developed by EDF, France’s state-owned utility, and a final investment decision is due later this year....
...Though EDF may claim that cost information is proprietary, to learn the lessons we need to know the causes....
...EDF is looking at ways to help mitigate the latest delay....
...EDF, now fully owned by the French state, will limit its stake in its next planned UK plant, Sizewell C, to 20 per cent....
...EDF, which operates the UK’s ageing fleet of five nuclear power plants, is looking to extend the life of the four that were all due to close by March 2028....
...Another EDF project in France likewise set to use enriched uranium is running 12 years over schedule and at more than four times the original budget....
...EDF cited the complexity of installing electromechanical systems and intricate piping at the site in Somerset for the most recent delay....
...For example, the UK government is seeking backing for EDF’s next large-scale reactor in the UK, Sizewell C in Suffolk, but the spectre of cost blowouts at Hinkley Point C looms large....
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