EDF: Significant Increase in Nuclear Production and EPR Projects Moving Forward
EDF reports positive half-year results, highlighted by a strong rebound in nuclear and hydroelectric production. The group is also launching a comprehensive “Ambition 2035” program aimed at restructuring the company and increasing low-carbon electricity production.
Optimism prevails at EDF during the presentation of the half-year results for 2024, disclosed on July 26th. After overcoming the issue of stress corrosion cracking in the nuclear fleet, the group is buoyed by improved management of reactor outages and a significant increase in nuclear production, which reached 177.4 TWh, up by 19.4 TWh.
“We confirm with great confidence the nuclear production range of 315 to 345 TWh of electricity produced for the year, with the prospect of being at the very top of this range,” stated Xavier Girre, EDF’s Chief Financial Officer. Overall production is also boosted by an excellent performance of the hydroelectric fleet, which increased by 9.9 TWh to 31.1 TWh.
Advancements in New Nuclear Projects
New nuclear energy is also maintaining strong momentum. Flamanville 3 EPR, where fuel loading was completed in May 2024, is preparing for its upcoming divergence and connection to the grid in the following weeks. In the UK, the first three steam generators have been delivered to Hinkley Point C. For Sizewell C, “the nuclear site license, necessary to continue the project, has been obtained from the British safety authority,” EDF announced. Additionally, Framatome has signed contracts for the boilers, control systems, and fuel supply.
Regarding the EPR2s, EDF is committed to constructing six units (including the first pair at Penly, where construction has begun) and asserts that the basic design is complete. “We are now entering a detailed design phase,” explained Luc Rémont, CEO of EDF. The final investment decision for these reactors is scheduled for late 2025 to early 2026, pending discussions on financing conditions with public authorities, warns the EDF executive.
A New Plan for the Coming Decade
In this context, EDF announces the launch of the “Ambitions 2035” plan. It focuses on four main pillars: reducing customers’ carbon footprint (electric charging, self-consumption, etc.); increasing low-carbon electricity production; developing electric grids; and providing flexibility solutions for the electrical system.
A key challenge remains: renegotiating Contracts with the State concerning the sale of nuclear-origin electricity, specifically the terms that will succeed the regulated access to historical nuclear electricity (Arenh). Luc Rémont states, “The agreement reached with the State at the end of last year is not intended to change,” but he emphasizes the need to expedite the signing of “long-term contracts.” ■