Engie, France, reports 9.4% decline in first-half earnings
By America Hernandez
PARIS, 1 August - French utility Engie reported a 9.4% drop in its half-year earnings Friday as higher revenues from natural gas distribution were not enough to offset lower prices for energy and hydropower.
The company's first-half earnings, excluding nuclear operations, were 5.1 billion euro ($5.82 billion), down from 5.6 billion euro a year earlier.
"These results are solid, given the normalisation of market conditions in a geopolitical and economic context that is uncertain," stated CEO Catherine MacGregor.
Last month, Europe's largest network operator for gas said that the colder temperatures of 2025 resulted in an increase of 6.5 Terawatt hours (TWh), or more gas sold and distributed to customers compared to the previous year.
This was offset by a drop of 2.1 TWh in French hydropower due to a lack of rain and a drop of 2.2 TWh in nuclear power after Belgium permanently closed Engie's Doel 1 plant in February, and Tihange 3 in April, for upgrades.
Engie's goal in recent years has been to abandon the nuclear industry, focus on its natural gas core and invest the profits back into renewables.
MacGregor, a journalist, said that the company will move forward with three wind and sun projects in the U.S. after President Donald Trump released the annual budget, which clarifies energy policy.
She said that the clients and U.S. markets remain very promising, and that it is impossible to make projections on data center buildout without an extensive amount of renewable energy project.
(source: Reuters)
