EDF, one of the world’s biggest energy companies, have published their latest results today for the first 9 months of 2019.
EDF’s worldwide revenues are up by 3.4% to £43 billion, while in the UK revenues are down by 1.1% to £5.5 billion. The drops in UK revenue were after outages at their nuclear power stations.
In the UK, EDF Renewables are now supplying Tesco with electricity from solar panels and wind farms and they have bought Pivot Power, a company specialising in battery storage and electric vehicle charging.
The cost of their new nuclear power station at Hinckley has been revised to £22 billion. It’s Europe’s biggest construction project and, once built, will be the most expensive man made object on Earth.
Comment from Mark Todd, co-founder of price comparison service energyhelpline:
“Like most other suppliers, EDF is not happy with the price cap saying that it is denting their sales. At the same time, they have lots of small suppliers nipping at their heels, trying to steal their customers, like an annoying pack of Jack Russells.
Despite the small suppliers, they have managed hold customer numbers level at 5.7 million, a startling achievement.
EDF’s focus traditionally has been on nuclear power stations but they are shifting to renewables as the Climate Crisis deepens.”
Improvement Over Last Year
Reuters reported in February that EDF had 4.9 million household customers in the UK. The company is also aiming to build a new nuclear power plant at Sizewell in East Anglia, named Sizewell C. The BBC reports that this is not popular with some locals.
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