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EDF looks towards future jobs after flagging tough 2nd half

French energy huge EDF goals to satisfy its schedule for future atomic power plant jobs, its CEO stated on Friday, with final tests ahead of the start-up of its newest French reactor imminent after years of delays.

The group previously reported a dive in first-half revenue on greater electrical energy production, however said local market prices had actually fallen and warned core revenues in the 2nd half would decrease year-on-year.

The world's biggest nuclear power plant operator, which has grappled with a variety of issues in recent years, is hoping to fortify its finances with a revamped fleet to partially assist fund a minimum of 6 more reactors in France.

It is in talks over prospective investment decisions on its new European pressurized reactors (EPR2) by late 2025 or early 2026 to remain on track for starting 2 reactors per year in the 2030s, CEO Luc Remont stated throughout its first-half profits presentation.

Its newest French task, Flamanville 3, is anticipated to be added to the grid a few weeks after the conclusion of the last tests needed before the start-up the reactor, the group stated, after more than a decade of delays and ballooning costs.

EDF said in its results declaration on Friday that the last tests were impending. The business is also aiming to increase employing in the nuclear sector to manage its future reactor plans.

Questions still surround EDF's ability to build the Europe-wide supply chain that will be needed to match its aspirations after years of delays have hampered their most recent tasks, and high costs lost them a quote in the Czech Republic.

In Britain, EDF is continuing talks with the freshly chosen Labour federal government over its Hinkley Point C and Sizewell C. nuclear jobs, Remont told reporters, including it is a bit. early to give a date for a final financial investment decision on. Sizewell.

They are working to find extra investors for the HPC. project, Remont said. There is potential for further delays. depending how well the work schedule is kept, it said in its. earnings note.

EDF previously stated electricity production had climbed in the. first half as more of its existing fleet returned to service and. eco-friendly supply increased, surpassing decreases in wholesale. power prices.

Its electrical energy production for the first half amounted to 259. terawatt hours (TWh), a 12% increase from a year earlier. Output. from nuclear likewise rose 12% to 177.4 TWh.

Nuclear power output in France, omitting output from the. new Flamanville 3 reactor, is anticipated to be at the high end of. a series of 314 to 345 TWh for the full year, EDF stated.

Net income rose to 7 billion euros ($ 7.6 billion), while. profits before interest, tax, financial obligation and amortisation climbed. 16.1% to 18.7 billion euros.

(source: Reuters)