Update of the unavailability agenda of two Belgian nuclear units Confirmation of 2018 financial targets taking into account the good performance of other activities

Technology & Business

Electrabel, a subsidiary of ENGIE, announced today its decision to update the agenda of the scheduled revisions of the Tihange 2 and Tihange 3 nuclear units (see appendix page 3).

Thus, the restart dates of these two plants, as of today, are as follows:

  • Tihange 2: June 1, 2019 (previously planned on October 31, 2018)
  • Tihange 3: March 2, 2019 (previously planned on September 30, 2018)

These calendar revisions result in a shortfall of around 250 million euros at 2018 Group EBITDA and net recurring income Group share.

It should be noted that based on the announcement made today, the availability factor of Belgian nuclear plants is expected at 52% for 2018. For 2019 the availability factor is expected at 74%.

As 2018 is strongly impacted by unplanned nuclear outages, the Group's general management is fully committed to achieve the financial objectives set at the beginning of the year.

The action plan launched last June (renegotiation of contracts, generation portfolio optimization) combined with the very good performance in other businesses, offset to a large extent the impact from unplanned nuclear outages.

The Group thereby confirms the 2018 financial targets , on net recurring income Group share (at the low end of the 2.45 to 2.65 billion euros range), on net debt/Ebitda ratio and on dividend.

A conference call will be held on Monday, September 24 at 8:00 am Paris time.

Appendix: Electrabel press release of September 21, 2018 (French version)

These targets and indications exclude E&P and LNG contributions and assume average weather conditions in France, full pass through of supply costs in French regulated gas tariffs, unchanged significant Group accounting principles except for IFRS 9 & 15, no significant regulatory and macro-economic changes, commodity price assumptions based on market conditions as of December 31st, 2017 for the non-hedged part of the production, and average foreign exchange rates as follows for 2018: EUR /$: 1.22; EUR /BRL: 3.89 and do not consider significant impacts on disposals not already announced at Dec, 31st 2017.

Annexe : Communication presse Electrabel du 21 septembre 2018

Adaptation du planning de disponibilité de Tihange 2 et Tihange 3.

Electrabel a adapté ce 21 septembre la date de fin de révision de Tihange 2 et Tihange 3.

Pour rappel, Electrabel a constaté l’an dernier une dégradation du béton au niveau des plafonds des locaux de Doel 3 abritant les buses de sortie des soupapes d’échappements vapeurs dans le bâtiment annexé au bâtiment réacteur. Ces bâtiments, situés en zone non nucléaire, constituent pour les unités belges les plus récentes, une installation de sûreté supplémentaire qui n’est généralement pas présente dans les centrales des pays voisins. Ces bâtiments sont soumis à d’intense pression de vapeur qui dégradent au fil du temps les bétons.

Les travaux pour Tihange 3 et les analyses en cours pour Tihange 2 et Doel 4 (carottage, décapage, rassemblement des données,…) montrent que l’état des dégradations est différent d’un bâtiment à l’autre.

Les équipes travaillent actuellement au diagnostic et aux calculs qui doivent permettre de proposer des plans d’actions aux autorités.

Au regard des informations disponibles, Electrabel a revu la disponibilité des unités concernées par la problématique du béton :

Tihange 2 : indisponible jusqu’au 1er juin 2019

Tihange 3 : indisponible jusqu’au 2 mars 2019

Doel 4 : pas de changement ; indisponible jusqu’au 15 décembre 2018

Electrabel rappelle que ces dates sont les meilleures estimations au regard des informations connues à ce jour et pourront être modifiées en fonction des optimisations de planning, du résultat des inspections futures, de l’avancement des travaux et des injonctions des autorités.

Electrabel communique de façon transparente vers les marchés. Electrabel rappelle que ces évènements n’ont aucun impact sur la population, les travailleurs et l’environnement.


We are a worldwide energy and services group which is structured around three key businesses: the production of low-carbon energy, particularly from natural gas and renewable energies, energy infrastructure and customer solutions. Motivated by our ambition to contribute to harmonious progress, we are addressing the main global challenges such as combating global warming, access to energy for all and mobility, and offer our individual, business and community customers solutions for producing energy and services that reconcile individual interests with collective challenges. Low-carbon in nature, our integrated, efficient and sustainable offering harnesses digital technologies. Besides the energy issue, they are facilitating the development of new uses and promoting new ways of living and working. Our ambition is being realised every day by each of our 150,000 employees in 70 countries. With our customers and our partners, they constitute a community of imaginative builders who are today imagining and building solutions for the future. 2017 turnover: 65 billion euros. Listed in Paris and Brussels (ENGI), the Group is represented in the main financial indices CAC 40, BEL 20, Euro STOXX 50, STOXX Europe 600, MSCI Europe, Euronext 100, FTSE Eurotop 100, Euro STOXX Utilities, STOXX Europe 600 Utilities) and extra-financial indices (DJSI World, DJSI Europe et Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

For more information: www.engie.com


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