But as you’ll see below, no matter how bad things are there’s always room to give the CEO a pay rise. The Group reaped profits of €360 million (£324 million) in 2021, a total reverse in performance from 2020 when the Group made a loss of €2.6 billion (£2.3 billion).īut what about the future? EDF is predicted to stack up 100 billion Euros (£87.8 billion) in debt this year and the French government already pumped €3 billion (£2.6 billion) into the company in Spring.
Group sales for the year amounted to £8,720m, an increase of 8%. Regardless of the UK subsidiary’s accounts, the EDF Group achieved all its financial targets in 2021. However, another UK subsidiary, EDF Energy Holdings Ltd did pay dividends of £1 million in 2021, and £60 million in 2020.ĭespite these losses, at the end of 2021 EDF Energy (UK) Ltd still had net assets of €17.9 billion (£16 billion). No dividends were paid by EDF Energy (UK) Ltd. According to EDF Energy (UK) Ltd’s 2021 accounts, EDF operated a €4.8 billion (£4.2 billion) loss compared to €268 million (£239 million) in 2020. On the face of it, it does seem like EDF profits have nose-dived in recent years. Is EDF suffering as a result of the cost of living crisis? It’s worth noting that the shareholders set to cash in from this nationalization are investment giants Blackrock and Vanguard Group. But at what price? The other shareholders are demanding a fortune, with the government set to pay a total of 9.7 billion euros (£8.7 billion) of French taxpayers’ money. The French state started finalising their buyout of 100% shares in EDF in September. But it hit a brick wall when investors threatened to sue the government for losses. In July 2022, the French government announced it would buy out the outstanding 16% of EDF’s shares, reversing the partial privatization of the company in 2005. Gas (excluding pre-payment): 2.1 million Who owns it?ĮDF Energy (UK) Ltd is ultimately owned by EDF SA, a French company which is majority owned (84%) by the French government and listed on Euronext, the French stock exchange.
How many UK energy customers does EDF have?Įlectricity (excluding pre-payment): 3 million EDF is also involved in the data software, vehicle traceability, investment, and real estate sectors, to name just a few.ĮDF uses strategic partnership deals to build its brand, for example, the company is a ‘premium partner’ (and official energy supplier) for the Olympic and Paralympic Games in Paris in 2024. The group is now made up of 144 subsidiaries.ĭespite its name, EDF isn’t just in the energy business. Now, 70 years on, EDF has branched out a lot further than France, cashing in on energy users from the USA to India. It is one of the world’s top five utility companies.Ĭreated in 1946 by the French government, EDF was set up with the intention of rebuilding France’s power grid following World War Two. A multinational energy producer and supplier primarily (and soon to be solely) owned by the French government. The French multinational is best known for “leading the UK’s nuclear renaissance” operating all eight of the UK’s nuclear power stations.
#Edf and fracked gas series#
What happens when a state energy company goes multinational? In the second installment of its Heat the Rich series on Britain's big six energy giants, Corporate Watch puts the spotlight on EDF Energy.ĮDF is the fifth biggest energy supplier in the UK currently controlling over 10% of the market.
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