EDF has published its 2017 annual results. Nuclear power generation in France decreased by 1.3 % to 379 TWh, well below its initial target of 400 TWh, due to extended unplanned and longer than expected maintenance outages at several of its French nuclear reactors. The extended outage of Sizewell B reactor in the United Kingdom also contributed to a 1.8% decline in British nuclear generation to 64 TWh. EDF's hydropower generation in France fell by 12.5% to 37 TWh. However, EDF Energies Nouvelles produced 10.9% more electricity than in 2016 and reached 12.6 TWh, thanks to the commissioning of 1.9 GW of new capacities during the year, of which 0.9 GW of solar. Solar and wind net installed capacity grew by 23% in 2017(+1.6 GW) to 8.8 GW (full consolidation).
The lower nuclear generation led to a 21% drop in French power generation income by 21% (€4.8bn) and a drop in core earnings by 16%. EDF expects 2018 to be the year of the rebound (nuclear generation should exceed 395 TWh in 2018). However, nuclear power generation in France expected to be even lower in 2019 with other maintenance outages and the closure of the Fessenheim power plant,while the Flamanville EPR project will still be ramping up to full production.
As for its residential customers business the portfolio has slightly decreased by 1.2%, partly because of the heightened competition from other companies such as Engie, Direct Energie and Total Spring, which possibly further eroded EDF's market share to 85.5%. Distributed volumes in France eroded by 1.8 TWh.
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