France's EDF sees 32 bln euro earnings hit from lower nuclear output

EDF is expecting a hit of around 32 billion euro ($32.18 billion) to its full-year core earnings from lower nuclear production, a bigger loss than the 29 billion euros forecast in September, the power company said on Thursday.

The group, which is in the process of being fully nationalised by France, said it was also assessing the impact of weeks of strikes at its reactors. EDF is racing to get its reactors ready in time for the winter after an unprecedented number of outages at its plants, partly due to corrosion issues first detected last year.

In a statement on Thursday, the group said it had completed repair works on six reactors affected by corrosion problems, while works were still underway at four reactors for the same issues, while five more were being checked. ($1 = 0.9945 euros)

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