EDF, one of Britain’s Big Six energy companies, reported more than a €70-million year-on-year revenue loss in the United Kingdom the first quarter of 2019. At the time of publishing, the loss was equal to more than $90 million.
EDF noted the U.K. revenue drop in their official statement about the Q1 earnings.
“Sales were also negatively impacted by activities in the United Kingdom due to the decrease in nuclear output in connection with the extension of planned outages,” The company said.
The “planned outages” include EDF’s shutdown of its Dungeness B-21 and B-22 nuclear reactors, a shutdown that began in the summer of 2018.
According to a Reuters report about the outage, EDF was using the downtime to inspect and repair pipes.
A company spokesperson who talked with Reuters said, “engineers at the plant are making good progress on the inspection and maintenance of conventional steam line pipes that carry steam from the boilers to the turbine.”
In the U.K.-specific section of EDF’s earnings report, they also list two other factors that contributed to the drop in organic growth.
“The decrease in sales was mainly due to the decline in nuclear generation and to a lesser extent to the suspension of the capacity market and the SVT (Standard Variable Tariff) price cap.
That same section pointed out that the company’s U.K. residential sales have stabilized due to the competition in the U.K. retail energy market.
“Supply activity benefited from the good resilience of the residential customer portfolio, which is stabilizing in a still very competitive environment, and from increasing sales volumes in the business customer segment,” The report stated.
This statement may refer to steadied customer retention this past quarter after the company lost 200,000 customers in 2018.
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