France’s EDF Lost $19 Billion After Nuclear Outages

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EDF, France’s state-controlled power company, lost around $19 billion last year after outages at its nuclear reactors

lost around $19 billion last year after outages at its nuclear reactors left the state-controlled power company—and much of Western Europe—more exposed to the energy crisis sparked by the war in Ukraine.

EDF said that the nuclear outages cost it 29.1 billion euros, equivalent to around $31 billion, in pretax earnings. The French government’s decision to cap power prices lowered earnings by another €8.5 billion. Unusually low hydropower generation caused by drought conditions over the summer cost the company another €2.5 billion.

 

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