France’s EDF Sees Steady Nuclear Production Recovery

(Bloomberg) -- Electricite de France SA reiterated that it sees a gradual recovery in nuclear output after a plunge last year due to prolonged outages tied to stress corrosion issues at some of its plants.

The French utility confirmed its nuclear output guidance through 2025 in statements published to its website late Friday. EDF expects 300 to 330 terawatt hours of nuclear output this year, 315 to 345 TWh in 2024, and 335 to 365 TWh in 2025.

Chief Executive Officer Luc Remont said during a hearing at French Parliament this week that EDF’s nuclear output could climb back to 350 TWh by 2025, with an aim to get as close as possible to 400 TWh in the medium term. In April, Energy Transition Minister Agnes Pannier-Runacher said the firm should use the next three years to upgrade its nuclear fleet and raise output above 350 TWh.

The company, which maintains existing reactors and builds new ones, is increasing spending to ramp up renewable energy production. It’s expecting investment needs to reach about €25 billion ($27.8 billion) per year, the CEO said at the hearing.

(Corrects 2021 and 2022 figures in chart of story published July 22.)

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