Électricité de France (EDF) said on Friday it expects profits to edge lower again this year as subdued electricity prices continue to pressure earnings in France’s oversupplied power market.
The state-owned utility, France’s dominant electricity producer, reported a 19% drop in 2025 core profit to 29.3 billion euros ($34.4 billion), despite nuclear output reaching its highest level in six years.
Benchmark year-ahead power prices fell to around 50 euros per megawatt-hour in October, their lowest since 2020, reflecting rising renewable generation and sluggish industrial demand.
Prices are now below EDF’s estimated operating costs, according to France’s energy regulator, squeezing margins for a group that derives roughly half its income from domestic market rates.
Chief Financial Officer Claude Laruelle said boosting electricity consumption has become a top priority as the company seeks to stabilise revenues and better absorb its output.
EDF is targeting energy-intensive users such as data centre developers, offering access to former industrial sites with existing grid connections to accelerate new demand.
The company invested 24 billion euros in 2025, including 7.1 billion euros in new nuclear development, underscoring the scale of its expansion plans.
A significant portion of that spending went toward the Hinkley Point C project in Britain, one of Europe’s largest nuclear construction sites.
EDF’s renewed focus on stimulating demand comes as it prepares for further heavy investment in its French reactor fleet.
The utility said increasing electricity usage across the power mix will be essential to sustaining production levels and supporting long-term financial stability.