PARIS (Reuters) – French power company Engie said on Monday that the fact that France had warmer temperatures in 2022 compared to the previous year resulted in lower volumes for its gas distribution activities, as well as lower hydro power production.
“Although nuclear and hydro activities were impacted by this negative volume effect, these assets captured higher prices leading to a positive price effect in FY 2022, which was partly offset by higher Belgian nuclear and French hydro taxes (including inframarginal rent cap),” added Engie in a statement.
Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!
By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.
(Reporting by Sudip Kar-Gupta and Piotr Lipinski; Editing by GV De Clercq)