European electricity giant posts record losses ...News

Russia Today - Economy
European electricity giant posts record losses
source : Russia Today ( News ) () 17
Electricite de France suffered a net loss of almost €18 billion Electricite de France (EDF) has reported a record single-year loss of €17.9 billion (around $19 billion) for 2022, pushing the power giant’s overall debts to €64.5 billion.  The losses, which contrast with a profit of €5 billion in 2021, are the third largest in French corporate history and the worst for more than two decades. The fall comes despite a 70% surge in EDF’s revenues, which totaled €144 billion due to increases in global energy prices. The largely state-owned electricity producer endured a tough 2022 due to an unprecedented number of outag

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