EDF Reports €10 Billion Profit in 2023, Amid UK-France Dispute Over Nuclear Project Costs

The French energy giant EDF has bounced back from its 2022 losses, reporting a substantial profit as tensions rise with the UK over funding for the Hinkley Point C nuclear project.

EDF announced a net profit of €10 billion for 2023, recovering from a €17.9 billion loss in 2022, driven by a rebound in nuclear energy production.
The profit surge comes amid a dispute between the UK and France over who should bear the ballooning costs of the Hinkley Point C nuclear project.
Hinkley Point C's completion may be delayed until 2029 or 2031, with costs potentially rising to £46 billion, significantly over the initial £18 billion budget.
EDF's UK investments are under scrutiny as the company navigates €54 billion in net debt, despite the profit turnaround.
The French government is pressing the UK to contribute more to the financing of Hinkley Point C and the planned Sizewell C reactor, amid ongoing negotiations.