REUTERS/Benoit Tessier/File PhotoPARIS French utility EDF pledged on Tuesday to deliver positive cash flow next year before it has to invest in upgrading its ageing French nuclear plants and building new reactors in Britain. It had negative 2016 cash flow of 1.6 billion euros, and 2.1 billion in 2015. EDF (EDF.PA) said core earnings would fall further to 13.7-14.3 billion euros this year but it expects 2018 earnings would then recover to at least 15.2 billion euros ($16.13 billion). By taking this option last year it left an extra 1.8 billion euros in EDF's coffers. REUTERS/Charles PlatiauFILE PHOTO An EDF worker is seen November 16, 2016 on the construction site of the third-generation European Pressurised Water nuclear reactor (EPR) in Flamanville, France.
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Utility firm EDF pledges to increase cash flow to fund Hinkley Point nuclear reactor
Nuclear output fell nearly eight per cent to 384 terawatthours (TWh), and the company set a 2017 target for nuclear output of 390 to 400 TWh. Courtney GoldsmithFrench state-owned utility firm EDF today said a drop in nuclear production hit its core earnings for 2016. Shares were down about 0.5 per cent following the results. It had negative cash flow of €1.6bn last year, and €2.1bn in 2015, and its due to spend £18bn building two nuclear reactors in Hinkley Point as well as a €50bn upgrade of its French nuclear stations over the next decade. However, it said it will deliver positive cash flow next year before it has to invest in building new reactors in Britain.read more visit us Energy markets
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