EDF: strong increase in activity in Q1, despite a decline in nuclear power

In the first quarter of the year, EDF recorded a 34.6% increase in revenues compared to the same period last year, despite a drop in its nuclear production. High energy market prices and the acquisition of new residential customers in France contributed to this growth.

Share:

EDF’s first-quarter revenues were up 34.6% on the same time last year, at 47.8 billion euros, boosted by higher market prices and despite the decline in its nuclear output. “The sharp increase in revenues was mainly due to higher electricity and gas sales prices, resulting from higher market prices particularly in France and the United Kingdom,” said the group, which does not provide quarterly figures on its performance.

200,000 additional residential customers for EDF

Against a backdrop of soaring energy prices, the first three months of the year also saw EDF gain more than 200,000 residential customers in France. The number of customers benefiting from the Tempo option has grown particularly strongly (+55% compared to the end of March 2022). Customers who subscribe to this service are encouraged by the tariffs not to consume during the “red” period, which is synonymous with very high voltage on the electricity network.

Conversely, EDF’s revenues suffered this quarter from the tariff shield, introduced in France to limit the increase in consumer bills, and from a drop in gas consumption. During these first three months, the group also delivered 85.2 TWh of nuclear electricity in France, 6.5 TWh less than in Q1 2022. This decrease is linked to the lower availability of the fleet, due to shutdowns imposed by the examination and repair of circuits affected by corrosion. The electrician also underlines the effects of the social movements. Last year, the electricity giant suffered a massive loss of 17.9 billion euros, increasing its debt to an equally record level of 64.5 billion euros, at the end of a dark year plagued by the setbacks of its nuclear fleet but also by its forced contribution to the tariff shield.

EDF’s schedule validated by the ASN

This week, the French Nuclear Safety Authority (ASN) approved the new schedule proposed by EDF to control welds at risk of cracking in its nuclear reactors. The black series had begun in October 2021 with the discovery of a micro-crack in one of the newest and most powerful plants, a phenomenon called “stress corrosion”. But EDF has had to revise its control program after the recent discovery of a crack, very large this time, in a pipe of a reactor in Penly (Seine-Maritime).

For this year, EDF is keeping the same estimate of nuclear production in France for 2023, at 300-330 TWh, according to its Friday release. Another upcoming deadline for the group in the process of complete renationalization is a decision by the Court of Appeal expected on Tuesday on the appeal by minority shareholders against the conditions of its purchase by the State. The State holds 95.94% of EDF’s capital.

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.
Kinder Morgan, Inc. reports strong financial results for the second quarter of 2025, with net profit up 24% and a project backlog boosted by major new investments in natural gas transportation.
CenterPoint Energy remains vigilant as Invest 93L approaches, deploying emergency plans and pursuing upgrades to its electrical infrastructure across the Greater Houston area.
The Georgia Public Service Commission approves the 2025 Integrated Resource Plan, which includes major investments in generation, storage and the grid to address the strong rise in electricity demand.
Norwegian industrial group Aker ASA achieved a strong surge in its share price in the first half, expanded its diversification into real estate, and executed major transactions despite global energy market volatility.
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.
Mining group BHP sees low-emission iron production in Australia as unprofitable, just as Canberra and Beijing announce closer cooperation to decarbonise the global steel industry.
Aker Carbon Capture distributed $162mn in dividends to its shareholders, a direct consequence of significant asset disposals and a substantial restructuring of its balance sheet in the second quarter of 2025.
Equinor ASA acquired 2.1 mn of its own shares on the Oslo Stock Exchange for a total of $201 mn between July 7 and 11, continuing the second phase of its 2025 buyback programme.
Norwegian group Aker Horizons transfers all its activities to a subsidiary of Aker ASA, sells major assets and prepares its new strategy after a half-year net loss of $220mn.
South Texas Electric Cooperative is seeking proposals for the acquisition or purchase of energy for 500 MW of dispatchable capacity, aiming to strengthen long-term supply security in the ERCOT region.
A federal funding package of $16mn aims to accelerate grid modernisation, renewable energy development and carbon capture in Canada’s Maritime provinces.
RTE and Nexans announce the creation of a recycling chain dedicated to aluminium from electrical cables, targeting 600 tonnes annually and covering the entire industrial cycle from collection to production.
Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.
Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.
Westbridge Renewable Energy enters digital infrastructure market with Fontus, a 380 MW data centre campus in Colorado, positioned to meet strong growth in US cloud and artificial intelligence services.
Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.
EDF announces a new internal organization with key executive appointments to enhance decision-making efficiency and expedite the revival of nuclear and hydroelectric projects central to its industrial strategy.
Rubis announces half-year results of its liquidity agreement managed by Exane BNP Paribas, totalling 241,328 shares exchanged for an aggregate amount of €6.5mn in the first half of 2025.