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EDF Energy announces half year results

French energy supplier announces a 3% increase in earnings before EBITDA in the UK

EDF Energy announced earnings before interest, tax, depreciation and amortization (EBITDA) of £903 million, which represents an increase of 3% over the same period in 2012. Operating Profit Earnings Before Interest and Taxes (EBIT) was £471m.

During the past six months EDF invested £560 million in nuclear and coal stations, new generation capacity, gas storage and in customer supply business.

Overall sales were higher due to an increase in wholesale prices and higher volumes of gas supplied during the winter.  This was partly offset by lower output from EDF’s nuclear fleet which was expected due to planned maintenance.

EDF released a comment with the results: “Since the beginning of the year, we have invested £560m back in our business, which will help keep the lights on in future with reliable, secure and low carbon energy. We have also succeeded in restraining our operational costs.

“We have continued to deliver on our commitment to fair prices by offering the lowest standard variable prices of the main suppliers for 26 out of 28 weeks this year.”

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