EDF Energy posts ‘significant losses’ in energy crisis era

The company had a loss of £21 million in 2021

Big Zero Report 2022

EDF Energy has today reported ‘significant losses’ as gas prices continue to rapidly change the energy market landscape.

The company reported that it had negative earnings before interest, taxes depreciation and amortisation (EBITDA) of £21 million in 2021.

That compares to a positive EBITDA of £712 million in 2020.

EDF attributed the losses to high global gas prices, unplanned outages at nuclear power plants and the ongoing impact of Covid-19.

Today’s announcement follows reports that claim the energy giant is set to secure state support from France.

According to Reuters, the French state plans to inject around €2.1 billion (£1.7bn) into EDF to ease the financial pressure created mostly after the government’s instruction to sell power at below-market prices.

ELN has approached EDF for a response.

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