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EDF shares fall after new profit warning due to nuclear outages

Published 19/05/2022, 08:09
© Reuters. FILE PHOTO: A general view shows the four cooling towers and the reactors of the Electricite de France (EDF) nuclear power plant in Cattenom, France, February 14, 2022. REUTERS/Pascal Rossignol
EDF
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PARIS (Reuters) - Shares in EDF (EPA:EDF) fell 1.8% on Thursday after the French utility warned outages at its nuclear power plants would result in a steeper-than-expected cut in power output and thus have a greater than previously estimated impact on 2022 core earnings.

© Reuters. FILE PHOTO: A general view shows the four cooling towers and the reactors of the Electricite de France (EDF) nuclear power plant in Cattenom, France, February 14, 2022. REUTERS/Pascal Rossignol

By 0701 GMT, EDF shares were down 1.8% at 8.21 euros, extending losses of over 15% so far this year.

EDF said the impact of the outages largely related to a programme of inspections and repairs the company is carrying out on some of its reactors would have a negative impact of around 18.5 billion euros on the group's core earnings this year instead of the 14 billion euros previously forecast.

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