July 26, 2019 / 6:39 AM / 4 months ago

French utility EDF says Flamanville will be delayed for at least three years

PARIS, July 26 (Reuters) - French state-controlled utility EDF’s project to build a new nuclear reactor in Flamanville will be delayed by at least three years by problems with the weldings, EDF chief executive Jean-Bernard Levy said on Friday.

Levy also said the utility had not had problems coping with the hot weather of the past weeks and that despite power demand in July hitting a record of 60 gigawatts, EDF was fully able to provide sufficient power in France and was even able to export.

EDF’s first-half core earnings rose 3.5% to 8.35 billion euros ($9.30 billion), with revenues up 4.3% to 36.46 billion.

The company also confirmed its 2019 earnings guidance for core earnings before interest, tax, depreciation and amortisation (EBITDA) of 16-16.7 billion euros.

$1 = 0.8975 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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