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Engie – Belgium

Engie reports €1.5bn loss after €2.9bn charge on Belgian nuclear assets.

FT 26th Feb 2021 read more »

Engie wrote down its Belgian nuclear assets by EUR 2.9 billion due to the planned closure of its Belgian reactors by the end of 2025 and recorded an operating loss of EUR 1.1 billion for 2020. The French energy company said on Friday that he had decided to stop “all the preparatory work which would make it possible to extend two units [Doel 4 and Tihange 3] by 20 years beyond 2025 because it seems unlikely that this extension can take place, taking into account technical and regulatory constraints. ” In 2003, Belgium decided to definitively close its 6 GW nuclear fleet by the end of 2025, with the first reactor due to close next year. Engie’s Belgian subsidiary, Electrabel, operates the country’s seven nuclear reactors.

Montel 26th Feb 2021 read more »

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