February 17, 2019 / 5:01 PM / in 4 months

EDF CEO says French nuclear output unlikely to surpass 405 TWh due to shutdowns

PARIS, Feb 17 (Reuters) - French nuclear electricity generation is unlikely to surpass 405 terawatt hour (TWh) in the years ahead due to planned shutdowns of some nuclear reactors, Jean-Bernard Levy, chief executive of utility EDF said on Sunday.

Levy said in an interview with French newspaper Les Echos that the growth of the company’s revenue would remain limited if the Arenh mechanism - under which it sells nuclear electricity to rivals in the French market - remains unchanged.

EDF operates France’s 58 nuclear reactors that account for over 75 percent of the country’s electricity needs. Under the Arenh mechanism, EDF sells 100 TWh of its annual output to rivals at a fixed price of 42 euros ($47) a megawatt hour.

Levy said the current level of Arenh mechanism should be raised, and a floor price introduced to ensure EDF’s profitability, while a ceiling price is also put in place to protect consumers from volatility.

$1 = 0.8855 euros Reporting by Geert de Clercq and Bate Felix Editing by Susan Fenton

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