French energy giant EDF's UK arm returned to profit in 2022, boosted by it being able to sell the electricity it generated for a higher price.
EDF, which supplies gas and electricity to about five million UK households, is 84% owned by the French state, but will soon be fully nationalised. It said it planned to invest a further £13bn in the UK in the next three years, largely at Hinkley Point C, the new nuclear power station being built in Somerset that is due to open in 2027.The EDF Group posted an underlying loss for 2022 of €4.99bn blaming "the decline in nuclear output" and "the impact of the exceptional regulatory measures to limit price increases for consumers in 2022".
That's the same company with just under € 100 billion in debt. Huge liabilities to ageing crumbling and offline nuclear power stations in France 🇫🇷 if it wasn't backed by French government it gone under years ago
Elated for you EDF mademyday
Bet the government is loving all the extra income from VAT as well which should have been abolished by now. Energy is not a luxury item, it's essential and shouldn't have the tax on it in the first place. Even more so when prices are at stupid levels like they are now.
Thanks Gordon Brown- Labour. You sold our gas, oil and electricity supply to France. Now we have to buy it back!
I can't be the only one who is highly skeptical of these energy companies that are making massive profits then juggling their books to make them look acceptable with their excuses. I aint buying it.
We just gonna stop paying 🤡
Profits soar purely to greed. propaganda from BBC.
😡
In other news, water is wet
And that’s why I’m leaving them. £69 a quarter to over £360 a quarter the baguette eating dickhead frogs. If you know, you know
Seems to me that Ofgem were a bit quick to raise the price cap. Probably should have eased it up towards winter 2023 as that's when we'll be using the gas BG, EDF etc. have paid high price for. Guarantee we'll still have high prices next winter too. moneygrubbingbastards
Typical BBC bias. The article says the consumer energy arm made a loss of 200M as it's selling energy cheaper than it can buy it. And that's on the back of a loss last year.
More criminalised energy companies cheating customers out of their money phoney war to blame
Of course they have considering we have some of the highest prices in Europe
Everyone complaining here thought those covid cheques was free money lol. No such thing as free lunch. Here you go, enjoy inflation!
Broken Britain . NatWest's profits surge by over a third to £5.1 billion in 2022 with its boss earning £5m pay
Broken Britain
More tax revenue.
It’s almost as if customers are getting ripped off🤷♂️
All ‘profit’ gained by the current price hikes should be refunded back to customers. This country is pathetic
Proud to be British 😏
Is this EBITDA or EBIT? A lot of companies are making profits post brexit/Covid and due to incompetence of our government! But also the media isn’t helping by not always giving us the full picture and just making us more and more angry 😠 We need government and media reform!
Well done France subsidizing your peoples 4.5% energy rise with the 300% rise in uk energy bills. The privatisation model of thatcher is a disaster for the uk. EDF 100% owned by the French government
Huge profits for EDF, Banks, Oil Companies and doubtless to say supermarkets too! They are all taking the piss out of us all!
Just watched your news report on bbc1. You never mentioned that edf has been nationalised in France. Why?
RishiSunak you are a Joke !
This insane profiteering has to stop. Why are the government allowing such greed as ordinary people suffer, struggle and despair. Humanity has to prevail over their greed and profit mentality
Our price rise was 80% whilst the French rose by just 4%, which means that we were paying for their lifestyle
If edfenergy is running at a loss, why was I put onto its customer list when my previous supplier when out of business, remember the tories allowed greedy energy companies to raise their charges by extortionate and unjustifiable amounts EnoughIsEnough ToriesOut
Funny how all the energy companies seem to be making record profits. Funny how our utility bills are at their highest. Crooks
Congratulations edfenergy Well deserved...
As an edfenergy customer I want lower tariffs, including putting standing charges back to what they were before the extortionate and unjustified increases, energy caps have caused deaths, harm and hardship to the majority, greed over human suffering is disgusting EnoughIsEnough
You couldn’t make this outrageous fleecing up. I now expect EDF to reduce my electricity bill and refund me.
It's a fantastic industrial good news story. Well done guys 👏👏👏🐷🐷🐷🇬🇧🇬🇧🇬🇧
Fast Food Rockers - Fast Food Song
Excellent news! Hope they get a big dividend this year. Can't wait for the extra 20% price hike come April. Maybe I should just have my wages go straight to the energy barons.
Uk citizens paying for the massive profits of a French government owned energy Company all because our ideologically right wing politicians won't nationalise our own