Electricity de France
|Electricity de France SA
|legal form||Société anonyme (SA)|
|founding||April 8, 1946|
|Seat||Paris , France|
|Number of employees||156,534 (2015)|
|sales||75 billion euros (2015)|
The Électricité de France SA ( EDF ) is a publicly listed state-dominated French electricity company . EDF is the second largest electricity producer in the world. In 2010, EDF employed over 158,000 people worldwide to supply around 37 million customers.
The EDF was founded on April 8, 1946 (founding member including Marcel Paul and Pierre Ailleret ). In November 2004 it was converted into a stock corporation and in 2005 it was partially privatized on the stock exchange. The French state holds 84.8% of the shares, a further 2.4% are employee shares; 13.1% are traded and are privately owned or with institutional investors.
Until the beginning of the liberalization of the European energy market, EDF had a quasi-monopoly in France in the field of electricity trading, but not in the field of electrical energy generation. The subsidiary Réseau de Transport d'Electricité (RTE) operates the company's energy transmission network .
At the turn of the year 2017/18, EDF took over 75.5% of the reactor construction business from Areva (today: Orano ), which has been trading under the name Framatome again since then. Remaining activities in the area of reactor construction, such as the construction of the EPR Olkiluoto III reactor, which was affected by cost overruns and delays , will remain with the old company Areva. Areva is responsible for handling the remaining legacy projects that were not taken over by Orano or Framatome.
EDF had a debt level of 37.4 billion euros in 2016. As a state-owned company, this increases the French national debt ratio. EDF is facing further major financial burdens. These are among others:
- Takeover of Areva’s power plant construction division (EUR 2.5 billion)
- at EPR Flamanville 3 : increased construction costs (from three to 10.5 billion euros) and the question of whether the steel used for the reactor pressure vessel can meet the high requirements
- Maintenance costs for the nuclear reactors in operation (100 billion euros over the next ten years)
- Loss of income due to the planned reduction in the share of nuclear power in the electricity mix by 5.7 billion euros annually
- Increased cost of the two planned EPR reactors ( Hinkley Point C ).
EDF CFO Thomas Piquemal resigned in March 2016 due to disputes over the investments. In March 2017, the French state bought around 75% of the new shares offered by EDF as part of a capital increase for 3 billion euros ; the remaining new shares were placed on the capital market by a syndicate of banks. This is classified as a hidden subsidy by the French taxpayer.
It is reported that the French state will pay EDF 400 million euros for the planned shutdown of the Fessenheim nuclear power plant . Of this, 300 million euros are for the loss of profit and 100 million euros are for the fixed costs of the shutdown. Further compensation could follow.
EDF is active in the energy markets of Argentina, Egypt, Belgium, Brazil, China, Ivory Coast, Italy, the Netherlands, Mexico, Poland, Sweden, Slovakia, Spain, Hungary, the USA, the UK and Vietnam.
Presence in Germany, Austria and Switzerland
Until the beginning of 2011, EDF held a 45.01% stake in the Baden-Württemberg energy supplier EnBW . In December 2010, the then Prime Minister of Baden-Württemberg , Stefan Mappus , announced the buyback of these shares. However, EDF remained active on the German energy market. A wholly-owned subsidiary of the EDF Group with headquarters in Berlin was founded under the name EDF Germany. In 2014, EDF took part in the Berlin startup ubitricity, which deals with future developments in charging infrastructure in the electromobile sector. EDF EN Deutschland GmbH is also active in the field of renewable energies and holds a majority stake in the Bremen-based wind energy service provider REETEC. Together with DIF Infrastructure IV, EDF Invest holds 100% of the shares in the German transmission system operator Thyssengas . EDF has other investments in gas storage. EDF has a half share in Germany's largest run-of-river power plant in Iffezheim am Rhein (joint venture with EnBW). In 2019, EDF took over the Leipzig company Energy2Market , whose main business areas include direct marketing and the supply of control energy.
In Austria, the group held 25% + 1 share in the energy supplier Energie Steiermark (ESTAG) and 100% in the supplier Vero until mid-2015 . Until 2006, ASA Abfall Service was 100% owned by EDF, but was then sold to the Spanish Fomento de Construcciones y Contratas .
In 2010, EDF produced 630 billion kWh, over 22% of the total electricity generated in the European Union. Of this, 74.5% was generated in nuclear power plants, 9.2% in conventional thermal power plants , 16.2% from hydropower and 0.1% from other renewable energy sources such as wind power . EDF operates 58 nuclear power plants at 20 locations around the world . 34 reactors have a nominal output of over 900 MW, 20 reactors have around 1,300 MW each. Four reactors generate 1,450 MW each. All EDF power plants have a total capacity of 125,447 MW.
EDF planned to build two additional EPR reactor blocks at the Hinkley Point site in south-west England , which should go into operation in 2017. In view of the multiplication of the construction costs forecast for 2005 (details here ) (shortly before the general election on May 7, 2015 ), EDF has not yet made a final decision as to whether it really wants to build the two reactors.
- Jean-Bernard Lévy. The managerial talent. In: Handelsblatt , No. 104 of June 3, 2015, p. 19.
- EDF: Performance 2015. (PDF; 5.47 MB) Retrieved on December 29, 2016 .
- EDF website, as of June 2011
- Handelsblatt: Areva reactor business gets its old name back. In: Handelsblatt. Handelsblatt, January 4, 2018, accessed on February 1, 2018 .
- Nuclear company is rebuilding: Areva's core business is now called "Orano" . ( handelsblatt.com [accessed February 2, 2018]).
- France's state corporations are ticking time bombs . welt.de, April 4, 2016, accessed on April 13, 2017 .
- EDF receives billions from taxpayers. iwr.de, March 8, 2017, accessed May 19, 2017 .
- EDF annonce le succès de son augmentation de capital avec maintien du droit préférentiel de souscription d'un montant d'environ 4 milliards d'euros. edf.fr, March 28, 2017, accessed on April 15, 2017 (French, press release on capital increase).
- End decided for Fessenheim nuclear power plant. neueenergie.net, April 10, 2017, accessed on April 23, 2017 .
- EDF Germany , edf.com
- Stefan Mappus on the buyback of the EnBW shares on December 6, 2010
- Strong partnership for long-term success - energy trading. Retrieved October 8, 2019 .
- Energie Steiermark: EdF sells shares to Australia. kleinezeitung.at, July 13, 2015, accessed on July 6, 2017 .
- sueddeutsche.de, July 1, 2011: Great Britain and the nuclear companies - Fukushima? No problem!
- The Guardian April 2, 2015: Hinkley Point C nuclear project workers face layoff
- www.asn.fr: Anomalies de fabrication de la cuve de l'EPR de Flamanville press release of April 7, 2015
- EDF moves out of atomic energy in the USA. ( Memento from June 12, 2015 in the Internet Archive ) In: industriemagazin.net , July 30, 2013, accessed on August 3, 2013.
- www.exeloncorp.com: Constellation Energy Nuclear Group to Be Integrated Into Exelon Nuclear Fleet (July 29, 2013)