The EDF Group today announced its financial results for 2021. These results relate to the operations of the entire EDF Group worldwide, not just the UK.
EDF Energy Ltd will provide external communication on analysis of the performance of each segment of the business when it publishes its annual segment account before the end of April this year.
A summary of the results for EDF Energy in the UK is shown below: £862 million in 2020
Significant losses reflect the continued impact of COVID19, high global gas prices and unplanned outages at UK nuclear power plants. Hinkley Point C schedule unchanged with plans to start production in June 2026, but COVID19 continues to impact project. Strong activity active in residential area with more than 650,000 accounts added and clock target smart beyond. UK government and further investment in electric vehicles through the listing of Podpoint on the London Stock Exchange. By the end of 2021, 160,000 charging stations have been installed, up 70% from the previous year.
The Nuclear Fleet produces 41.7 TWh in 2021, or 4 TWh less than the previous year, due to an unplanned breakdown. Lost production must be bought back at a high market price.
The company has confirmed the end of production at Dungeness B in 2021 and Hunterston B in January 2022. Nuclear decommissioning agreements signed between EDF and the UK government ensure in the long run an important role for Power Generation in UK decommissioning.
Our residential business achieved more than 650,000 customer accounts by 2021. We engage in customer support from Green Network Energy, Utility Point, Zog Energy. Despite COVID19’s continued impact on customer operations in 2021, we’ve exceeded our smartwatch target and now rank second among major vendors in the Public Advisory rating. people.
Historical increases in wholesale energy prices have increased the cost of doing business for our Customers in 2021. Limiting energy prices meant we couldn’t pass on most of the inflated costs and as a result our residential business ran at a loss.
Hinckley Point C
Hinckly Point C made good progress in 2021 and is past “in the middle of construction”. The project is about 52% complete. The project schedule remains unchanged from the power generation plan from Unit 1 in June 2026. Also, the previously identified risks of the 15-month and 9-month “high probability” delays in blocks 1 and 2, respectively, have not changed. Despite the industry-leading steps to fight COVID 19, the schedule is still under additional pressure due to the continued impact of the 2021 pandemic and other issues.
Progress at the site includes the completion of the 2500 m3 concrete table that will support the Unit 1 turbine, and the first section of the steel ring has been successfully raised to the unit 2 reactor building.
Legislation on the use of the Regulated Asset Base (RAB) model for new nuclear financing is currently awaiting passage in Congress. We hope to use the RAB model to fund Sizewell C. The government has also committed £1.7 billion to large-scale nuclear and recently announced £100 million to support further development. further by Sizewell C.
A decision on a Development Consent Order for Sizewell C is expected late May 2022. vehicles.
We entered the UK grid-scale solar market, decided to invest in three projects and start building on one. We have also begun construction of three solar sites in Ireland alongside the ongoing development of the offshore wind farm Codling.
Construction work begins on the 30 MW West Benhar onshore wind farm in North Lanarkshire.
To support our ambitious growth plans, we have successfully increased the company’s headcount by adding 70 people.
EDF is in progress. help the UK net zero by accelerating the transition to a cleaner, low-emission electric future and the fight against climate change. It is the UK’s largest producer of low-carbon electricity (1), supplying about one-fifth of the country’s needs and supplying electricity and gas to millions of customers.
Generates low carbon power from 6 nuclear power plants, more than 30 onshore power plants and 2 offshore wind power plants, and operates a combination of coal-fired power plants, electric vehicle charging stations, and thermal power plants and power plants. I am.
EDF is leading the UK’s nuclear renaissance by building a new nuclear power plant at Hinckley Point C and planning a replica at Sizewell C in Suffolk. Hinckley Point C and Sizewell C meet 14% of UK needs and provide low carbon power to power approximately 12 million households.
EDF also invests in a variety of low carbon technologies such as renewable energy, solar and battery storage. The company’s largest offshore wind farm is currently under construction in Scotland, and the 450 MW Neartna Gaoithe project is expected to be completed in 2023. Apply R & D expertise to improve the performance of existing generations and unlock the potential of new technologies.
EDF helps both business and home customers take the first step towards a sustainable energy supply in their lives. Whether you’re buying an electric car, generating and storing electricity, or selling energy back to the grid. EDF is one of the largest suppliers to UK companies and a leading provider of innovative energy solutions to help companies become less energy dependent. In addition, the company’s energy services business, Imtech, is one of the largest technology service providers in the UK and Ireland.
EDF is part of the EDF Group, the world’s largest producer of electricity. In the UK, the company employs approximately 13,000 people across the UK and Scotland.