EDF picks doubly bad time for a nuclear wobble - gfhay -
Shares in EDF fell 14% on Dec. 16 after the French power giant found faults at a nuclear power station and shut down another plant using the same kind of reactors. As a result, the company cut its core profit goal for this year.
EDF said the outage at Civaux nuclear power plant and a precautionary stoppage at the Chooz plant, which uses the same technology, would result in a loss of 1 terawatt hour of electricity by the end of 2021. As a result, it cut its EBITDA estimate to 17.5 billion euros to 18 billion euros from a previous target of more than 17.7 billion euros.
France’s Nuclear Safety Authority said that EDF had detected cracks due to corrosion on pipes of a reactor at the Civaux power plant in western France. Separately, the French Institute of Radiological Protection and Nuclear Safety, another public agency, said checks on other EDF reactors were likely to be necessary.Steam rises from cooling towers of the Electricite de France nuclear power station in Cruas, France November 27, 2021.
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