2016 targets update and 2017 nuclear output outlook
1. Nuclear output target
As indicated in the press release dated 19 July 2016, additional controls are currently conducted, in order to demonstrate that the steam generators such as those referred to in the information notice published by the ASN on 23 June 2016(1) can operate in a fully safe mode. These controls aim in particular at measuring carbon concentration in various points of steam generators bottoms, which have been manufactured many years ago by JCFC (Japan Casting and Forging Corporation) acting as a subcontractor for Areva.
These controls have to be supplemented in order to reinforce the demonstration, which will lead in particular to extensions of certain planned outages for refueling, especially of Tricastin 1 and 3 reactors.
As a consequence, EDF Group revises its 2016 nuclear output target from 395–400 TWh to 380–390 TWh.
Taking into account these controls and the investigations initiated following Areva’s audit at Le Creusot plant, EDF Group estimates to date that the 2017 nuclear output should be in the range of 390–400 TWh.
2. 2016 EBITDA target
In this context, EDF Group adjusts its 2016 EBITDA target from €16.3–16.8 billion to €16.3–16.6 billion. This objective takes into account the updated nuclear output target as well as the expected retrospective tariff adjustment following the Council of State decision of 15 June 2016.
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