2023-05-25 04:44:00
Electrabel shows a net loss of 98 million euros in 2022, while the subsidiary of the French group Engie had still made a profit of 1.9 billion in 2021, reports L’Echo on Thursday. The increase in nuclear provisions largely explains this loss.
The energy crisis has enabled Electrabel to almost double its sales and services, from 13 billion in 2021 to 22.6 billion in 2022, according to the annual accounts filed with the BNB. Electrabel is also strengthening its market share in Belgium, to 45% in electricity and 42% in gas. But the costs increased even more sharply, from 12.3 billion to 25 billion.
This surge is explained by the rise in prices on the markets, but also by the increase in nuclear provisions: Electrabel had to put 2.8 billion euros into the pot, in its subsidiary Synatom, to cover the dismantling of power plants and the management of nuclear waste and fuel. A decision that Electrabel disputes, and which will probably end up before the Market Court.
The increase in the nuclear tax, the introduction of a tax on excess profits, the review of provisions for the French nuclear power plants over which Electrabel has drawing rights and the increase in the costs of Ondraf, the organization responsible for the management of nuclear waste also weighed.
Electrabel will not pay dividends to its French shareholder this year.
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