The UK arm of French energy firm EDF has announced its profits of £1.12 billion, compared with a loss of £21 million in 2021.

Announcing last year’s financial results earlier today, the energy giant also reported that its UK energy supply business lost £200 million.

Commenting on the company’s financial performance in the UK, EDF said: “Earnings before interest, taxes, depreciation and amortization (EBITDA) was up thanks to higher nuclear output, leading to additional volume sales in a high-price environment whereas 2021 generation levels had made purchases necessary at high prices.”

The group’s EBITDA was down significantly in 2022 – in France, this decrease was due to the decline in nuclear output, the price tariffs and the drop in hydropower production.

The energy company has made huge losses as a whole due to problems with its nuclear reactors in France – EDF Group posted an underlying loss of €4.99 billion (£4.44bn).

Luc Rémont, Chairman and Chief Executive Officer of EDF, commented: “The 2022 results were significantly affected by the decline in our electricity output and also by the exceptional regulatory measures introduced in France in difficult market conditions.

“Despite all the challenges, EDF actively focused on service and support for all its residential and business customers and made every endeavour to ensure the best generation fleet availability for the winter period.”