Change is in our power
Simone Rossi, Chief Executive
| EDF
We have continued to reach milestones across our business in support of that mission. In November, we celebrated 25 years operating in Britain. In that time, we’ve invested £25 billion, and by 2035 we’ll go even further by enabling £50 billion of investment to develop 15GW of zero-carbon electricity.
In 2023, we achieved our goal to reduce carbon intensity at the point of generation to zero, meaning we only generate zero-carbon electricity. As one of the UK’s largest energy suppliers, that zero-carbon electricity powers more than 3.7 million homes and organisations like the NHS.
Nuclear energy will play a vital role in supporting the transition to a decarbonised energy system and since acquiring Britain’s nuclear fleet in 2009, we’ve invested £7.5 billion into the fleet. Because of this investment, our nuclear stations have generated 212TWh, or 35% more, energy than originally forecast, which is enough to power every UK home for two years.
We plan to invest a further £1.3 billion in our generating stations by 2026, which will help to sustain this output, and later this year we will make a decision on further fleet lifetime extensions.
We’re also preparing for the future. We’re proud to be leading Britain’s nuclear renaissance with the construction of Hinkley Point C in Somerset, the UK’s first nuclear power station to be built in a generation. The project has achieved major milestones over the past year, including the lifting of the dome onto the first reactor in December 2023, and today, around 23,500 jobs across Britain are supported by Hinkley Point C with 1,320 apprentices trained so far.
Our 2024 Socio-Economic Impact Report highlighted the power of green investment in delivering growth for the nation through huge social and economic benefits. Hinkley Point C has invested £24 million into education and skills support with more than 8,000 people trained at its new Centres of Excellence so far, and almost one-third of those being trained today are from some of the most deprived areas of Britain.
Hinkley Point C is a catalyst for long-term growth and the supply chains and skills that the project has developed is paving the way for success at the replica project at Sizewell C and future nuclear projects. Once built, Hinkley Point C and Sizewell C will power 12 million British homes, boosting the country’s energy security with reliable, long-term, zero-carbon power.
Beyond nuclear, EDF Renewables goes from strength to strength, operating 1.5GW of renewables capacity with 14GW in the pipeline. We’re currently building the 450MW Neart na Gaoithe windfarm off the Fife coast, which will power up to 475,000 homes. This is alongside our 36 onshore wind farms across the country, and our first three 50MW UK solar farms will become operational this year.
Our low carbon energy solutions are helping Britain achieve net zero, but we’re also committed to reducing our own carbon emissions and waste, with an aim to be net zero no later than 2050. EDF also remains the only UK energy company to have the Biodiversity Benchmark certification, building on our commitment to deliver positive biodiversity outcomes.
Our role in the energy transition isn’t limited to building clean generation. We’re supporting customers with energy efficiency measures and low carbon solutions to help empower them to save energy and cut bills.
By the end of 2023 we funded the installation of 63,000 efficiency measures in 15,000 homes through the ECO4 scheme. We have strengthened our offering in technologies such as heat pumps and solar PVs, including through a range of innovative and UK-first tariffs, and in 2024 we’re allocating a further £180 million to help customers with smarter and innovative solutions.
That’s also why we’re working with Octopus Energy to push forward adoption of more low carbon electric technologies through Electrify Britain.
Alongside supporting customers to adopt these measures, we have continued our long-standing commitment to help vulnerable households, particularly during the ongoing affordability crisis, providing £15 million in debt relief and payment support to our most vulnerable customers this past year.
Underpinning much of this work is our close partnership with Government. We welcome the new Government recognising the need to accelerate delivery of new energy infrastructure and the early actions taken so far, including the immediate lifting of the onshore wind ban in England. We look forward to working with Great British Energy and Mission Control to help keep up the pace at this pivotal moment.
Our 2024 update demonstrates our continued commitment to helping Britain achieve net zero, as a long-term partner to the country. Net zero is an opportunity for Britain to become a clean energy superpower and EDF stands ready to help play its part.
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