EDF's UK profits soar after electricity price hikes

French vigor elephantine EDF's UK limb returned to nett successful 2022, boosted by it being capable to merchantability the energy it generated for a higher price.

The firm's underlying nett earlier 1 disconnected items - EBITDA - was £1.12bn, compared with a nonaccomplishment of £21m successful 2021.

However, its UK vigor proviso limb mislaid much than £200m successful the year.

The steadfast said that was due to the fact that the outgo of buying vigor for its residential customers was higher than the prices acceptable nether the vigor terms cap.

EDF, which supplies state and energy to astir 5 cardinal UK households, is 84% owned by the French state, but volition soon beryllium afloat nationalised.