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Reactor closures to cut EDF profit by at least one billion euros - Les Echos
November 7, 2016 / 7:20 AM / a year ago

Reactor closures to cut EDF profit by at least one billion euros - Les Echos

PARIS (Reuters) - A series of unscheduled nuclear reactor closures for safety inspections will reduce EDF’s earnings by at least one billion euros (0.88 billion pounds), financial daily Les Echos reported on Monday, quoting a source close to the company.

The logo of Electricite de France (EDF) is seen at the entrance of the nuclear power plant as steam rises from the cooling towers in Nogent-sur-Seine, France, October 20, 2016. REUTERS/Regis Duvignau/File Photo

EDF declined to comment.

Some 19 reactors out of the 58 EDF operate are currently out of service, representing 19,300 megawatts (MW), or 30.51 percent out of 63,260 MW of French installed nuclear capacity that is offline.

On Thursday, EDF pushed back the restart of five reactors, cut its 2016 nuclear power output target for the third time this year and lowered its 2016 EBITDA target for the second time this year to between 16-16.3 billion euros from 16.3-16.6 billion euros previously.

The original forecast was for 16.3-16.8 billion euros.

Reporting by Geert De Clercq and Emmanuel Jarry; editing by Michel Rose

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