EDF UK profits hit by fall in sterling and nuclear prices

Pound's decline against euro costs French firm EUR608m as home energy usage also dropsFrench state-owned energy firm EDF reported falling profits, including a downturn in the UK due to falling prices for nuclear power, improved energy efficiency among its household customers and the slide in the value of sterling since the Brexit vote. Profits in the UK division, which includes EDF Energy, slumped by a third to EUR1.035 (?920m) as sales dwindled by EUR579m to EUR8.68bn, partly because UK customers pay their bills in pounds but the company reports its results in euros. Continue reading...