Engie CFO: Belgium Seeks to Boost Nuclear Power Output

Deep News
Feb 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."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10