French electricity giant EDF announced that it had recorded a historic loss of 17.9 billion euros in 2022 and that it had increased its debt to an equally record level of 64.5 billion euros.
The revenue of the electric company increased by 70%, to 143.5 billion euros, pulled by the surge in energy prices, but the group goes into the red with a very heavy net loss of 17.9 billion, against a profit of 5.1 billion in 2021, according to the results 2022 of EDF, published Friday.
This is one of the heaviest losses in recent history in France, behind France Telecom (20.7 billion) and Vivendi Universal (23.3 billion) twenty years ago.
The French group has had to deal with numerous problems encountered in its facilities last year, including corrosion on pipes affecting the safety of its nuclear reactors. Nearly half of the 56 reactors have been shut down at times, causing severe stresses on the electricity grid, particularly in winter, and threatening power outages.
The electricity company has also suffered the consequences of the tariff shield put in place more than a year ago by the government to protect households and small businesses from the devastating effects of soaring electricity prices on the wholesale market.
The day before, the electricity transmission system operator RTE published its annual report, showing a sharp decline in the share of nuclear power in French electricity production last year. Its share fell from 69% in 2021 to 62.7% in 2022.
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