EDF’s UK energy profits jump to £560m

EDF Energy reported its UK profits rose to £560 million – before interest and tax – in the first half of this year. That’s in comparison to £507 million in […]

Register now!

By Priyanka Shrestha

EDF Energy reported its UK profits rose to £560 million – before interest and tax – in the first half of this year.

That’s in comparison to £507 million in the six months to June 2013. The energy giant said the growth was a result of higher output from its nuclear power stations, generating 2TWh of electricity more than the same period in 2013.

It also saw a 3.2% rise in its household customers, taking the total to 5.6 million accounts – which partially offset the “unfavourable weather effect on gas sales”, the company said.

The total operating profit (EBIT) for EDF Group in the first half of 2014 is €5.9 million (£4.7m).

Henri Proglio, EDF’s Chairman and CEO said: “This good performance is a testament to our ability to achieve two inseparable goals: satisfy the interests of our shareholders and carry out with determination our public service mission.”

Earlier this year the Big Six supplier increased gas and electricity bills by 3.9%.

Household energy supply profits for British Gas, however, fell 26% to £265 million in the first half of this year as a result of the warmer weather.