Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. So maybe I will start with your last question, which is around the decision on nuclear. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. Catherine MacGregor will join Engie as CEO. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? And sorry, just a follow-up on the CapEx. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. For example, last year, 91 additional biomethane production units were connected to the French gas grids, and over 85% of these were connected to GRDF. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class cookies Indeed, you can expect positive cash flow operation from our nuclear activities. And so every year, we will allocate capital to that, and thats 1.3 billion a year. The enshittification of apps is real. 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. All options for the sale of Equans, the newly-created services unit of French energy group Engie (ENGIE.PA), are being considered, including a possible listing, Chief Executive Catherine MacGregor . We also continued our relentless pursuit of simplifying the group. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. This higher tax rate included notably the adjustment of carrying value of some deferred tax assets and the one-off effect of the tax rate change in the UK. But time will tell. personalising content and ads, providing social media features and to This was really driven by mix of the results, changes in some tax laws, including in the UK, and we are expecting to go to a more normal level at the 25% kind of range in 2021. Depending on opportunities, it could be this asset or another one. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. 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. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. I have one question for Judith and one for Catherine, please. Is this happening to you frequently? These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. You mentioned that you would also phase out coal in district heating. And with that, Im pleased to hand you over to Catherine. And thank you, Catherine, too, for your answer, which I think we all appreciate, and we wish you with that, just final comment from my side, then Ill turn it over. In France, we continued to invest into the gas smart meters rollout. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. Now Ill comment on the bridge from net recurring income group share to net income group share, which was negative 1.5 billion in 2020. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. And lets now, indeed, look at our priorities for sustainable long-term value creation. Precisamos de 20.000 apoios para que a ideia se transforme em lei. Weve proven that over and over again in very, very recent past. And what is your philosophy there? And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. Welcome to the utilities world. On quick one on numbers, on guidance. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. We also benefited from higher contributions of GTT thanks to a strong past order intake. , Dear Catherine, Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. With respect to the recent extreme weather events in Texas, we are assessing the situation. Its coal exits. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. So youve been talking about investment discipline. So thats a positive. 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. So lots of enthusiasm around renewable. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Ms MacGregor is 48, she's been the Chief Exec. Thank you, Sam, for your welcome message and your welcome question. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. And the second one is very bad timing. Now turning to Networks. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. And when we reflect about some of the trends around electrification, around the growth in renewables, we realize that flexibility, dispatchability are going to be very important to the future of the energetic mix. Recharge is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. We think, in general, gas is going to be important in this energy transition. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. 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. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. And Im sure thats a question youve been reflecting on as you took up the new role. On the 100 million, quite frankly, there isnt any unusuals that you should assume. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. On the following slide, Ill share our 2021 expectations for each business line. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ It is important to say that our renewables growth ambition is not about entering a gigawatt race. https://waves-energy.co/maps/. And then, of course, in terms of Thermal, we will be very opportunistic. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. This has been a concern for the market. In the summer of 2019, she chose to pursue her career in the energy industry by joining the Executive Committee of the TechnipFMC Group to lead its onshore and offshore engineering and construction activities, Technip Energies. - Accompany our customers in their decarbonization strategies to face the climate emergency This button displays the currently selected search type. So to summarize, ENGIE made progress at pace in 2020. But really appreciate, thanks again ! Biography. Thats really clear. However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. Il serait pertinent de se concentrer sur l'aprs nuclaire, Yes. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. So thats one aspect of it. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . As we are reminded by extreme events, such as the recent ones in Texas, it is critically important that decarbonization of the energy mix is both reliable and affordable. 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. 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. And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. We have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference."
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