EDF shares fall after fault discovered at nuclear power plant

Shares of EDF fell 8% after the French power company said it had found a fault in a pipeline at one of its nuclear power plants, forcing it to shut down four reactors using the technology. this while investigating the incident.

The company said Wednesday night that closing these reactors would result in a loss of about 1 hour of TerraWatt on Wednesday night, adding that it had adjusted its earnings estimates before interest, taxes, depreciation and amortization to around €17.5 billion to €18 billion, compared with the previous target of more than €17.7 billion.

This problem adds to a host of existing obstacles EDF has faced in its nuclear power division, including cost overruns and delays.

The problems were found at a reactor at the company’s Civaux plant, in the French division of Vienne, during maintenance checks carried out every 10 years. France’s nuclear safety agency, Autorité de Sûreté Nucléaire, has been notified of the failures and four reactors have been shut down, including two at Civaux and two at Chooz, on the border with France. Belgium, using the same technology.

The EDF did not say how long the plants would be closed.

https://www.ft.com/content/430280fc-250d-4fc2-863c-a0b16a960018 EDF shares fall after fault discovered at nuclear power plant

Huynh Nguyen

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