EDF has released its 2022 results, posting a €17.9bn loss despite a significant increase in sales supported by electricity and gas prices. The group's EBITDA fell from over €18bn in 2021 to nearly -€5bn, due to the decline in nuclear power generation related to stress corrosion problems, the impact of exceptional regulatory measures to limit end-consumer price increases, and to the lower hydropower generation, which forced the group to purchase electricity at very high prices.
In 2022, EDF's power output declined by 18% to 431.7 TWh, including 76% of nuclear (-20% drop in nuclear power generation year-on-year,), 14% of renewables (-10%, with a 23% fall in hydropower generation), 9% of gas (-3.9%) and 1% of fuel oil. In France, nuclear generation decreased by 23% to 279 TWh and EDF’s hydro output in mainland France reached 32.4 TWh in 2022 (-22 %). EDF produced 43.6 TWh of nuclear power in the United Kingdom (+5%). The group’s wind and solar output stood at 24.6 TWh in 2022 (+18% compared to 2021). The number of customers increased by 3% in 2022 to 39.8 m, including 30.3 m in France and 5.5 m in the United Kingdom. At end-2022, EDF’s installed capacity reached 123 GW, with 55% of nuclear, 18% of hydro, 11% of renewables, 9% of gas, 3% of fuel oil and 3% of coal.