Engie CFO: Belgium Seeks to Boost Nuclear Power Output

Deep News
02/27

The Chief Financial Officer of French energy company Engie has stated that the Belgian government aims to increase the capacity of nuclear reactors and extend their operational lifespan. Engie had previously indicated a lack of interest in retaining its nuclear assets.

CFO Pierre-François Riolacci discussed Belgium's nuclear power plans on Thursday, following the company's earnings release and a major acquisition in the United Kingdom. He also mentioned that the company disagrees with a draft report from the Belgian regulator regarding future costs associated with the nuclear power plants.

Engie CEO Catherine MacGregor stated that a final report concerning the decommissioning costs of older reactors and the funds required for the future operation of newer reactors is expected by the end of April.

Engie expressed a preference to focus on more profitable assets, such as batteries and renewable energy. The company has already shut down three nuclear reactors in Belgium by 2025. Its two remaining operational reactors in Belgium—Doel 4 and Tihange 3—are projected to generate power until 2035, while the government is considering further extensions to their operational life. The company noted it remains "open" to extending the current 10-year prolongation for its two remaining reactors but requires clarity on decommissioning costs.

MacGregor commented, "We have always said we are not particularly enthusiastic about considering such an extension. However, we can conduct studies to determine the economic and operational safety feasibility of such an extension."

She emphasized that the company would only proceed with decommissioning activities if the framework for decommissioning provisions is "stable, predictable, and clear."

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