We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. In France, we continued to invest into the gas smart meters rollout. So its a huge project. And so our thermal fleet has a very, very important role to play there. I mentioned earlier two things actually. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. And so were keeping 40%. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. Learn more in our Cookie Policy. Or does it have its own game plan? COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. PDF CATHERINE MACGREGOR Directrice Gnrale - Engie Iberdrola shares nearly doubled. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. Great post Catherine Fiamma MacGregor! Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. Let me now turn to our ESG performance. We are a media company, specifically facilitating the maritime and offshore industry. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. We are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. Excellent example of circular economy ! A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. And so were excited about this transaction. This included 4 billion of growth CapEx, almost exclusively in our areas of strategic growth with approximately 40% in renewables, 40% in networks, and 15% in asset-based Client Solutions. Catherine MacGregor - Chief . Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. ENGIE is a major player in the energy sector, and we are extremely well placed to tackle most of the challenges posed by this transition. So without going into any specific, youre right to say that it does contribute to the simplification efforts. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. And so the amount will be much lower than what you have seen in 2020. Does this mean that Equans is now getting nothing? So for my question, the first is on the asset rotation. Holidays ? We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. Select Accept to consent or Reject to decline non-essential cookies for this use. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, And so we consider that these are going to be very important in the near term at least in order to maintain a power system that is both robust and affordable, which was some of the features that I described in my talk, as extremely, extremely important for this energy transition. #buckminsterfuller #trimtab #climatechange. On your two questions, 1 was on the tax rate. This was linked to a recovery of past energy costs, following the agreement on renegotiation of hydrological risk, which was finalized at the end of 2020. Judith? We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. 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Thank you. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Other generators like Uniper and Fortum have been very strong as well. In 2020, most of our newly commissioned assets were onshore wind followed by solar. We use So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. And hopefully, we can share more of that in May when we come back to you. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. She occupied a number of roles within [] Employee consultation on the proposed organization design started this month as planned, and we expect it to conclude by the end of the second quarter. And so we have assumed a very strong recovery like we have seen it in the second half. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. And I was very pleased to hear that you put simplification at the center of your new vision for the group. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. So two questions, please. First, we recorded significant impairments mainly driven by the 2.9 billion nuclear impairment caused by the change in lifetime assumption for Belgian nuclear reactors as well as by changes in the commodity price scenario. What are you looking at? Good morning, everyone. So youve been talking about investment discipline. So thats a positive. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. organisation The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Because there was a time when that business was making around 600 million of COI. For cost savings, you can change your plan at any time online in the Settings & Account section. When we mentioned the 2 billion of additional disposal to drive simplification, the topics you know about, of course, the strategic reviews that we have announced. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. In other words, direct stable energy is needed these hours. Euro erzielen. Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. Thank you. MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. Every Friday at a quarter past 10, the fire alarm. The enshittification of apps is real. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. We also posted higher financial costs. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. And what is your philosophy there? But in short, we have big ambition, but we will be disciplined. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. So can you be a little bit more specific about where the extra CapEx is being spent this year and how youve been able to ramp it up so quickly? On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. And sorry, just a follow-up on the CapEx. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Elle est ingnieur, diplme de l' cole centrale Paris, dont elle sort en 1995. janvier 2021 en qualit de Directrice Gnrale. Its coal exits. The enshittification of apps is real. The biggest, of course, remains Renewables. We are assessing the situation, which mainly affects renewables and supply activities. If we basically look at simplification, we could cut it in two parts, what I would call transactional simplification, disposals buyout of minorities on maybe organizational simplification. Obviously, we have made the decision to exit the coal, which is run under Thermal. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. Areas of expertise ; What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. If we look at the long term, weve got an average of 20% of minority as part of group net income with large minority stakes in Latam, for instance. So to summarize, ENGIE made progress at pace in 2020. https://noviocean.energy/documents/ COVID weighed particularly heavily on Client Solutions and on Supply. Cheers! Yes, two topics that you were talking about, Peter. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.
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