Weve proven that over and over again in very, very recent past. 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. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. It seems to be the trend last few questions. 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. You can store it. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. Its a geography refocus. The first is on the Supply business. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. 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. We have ambitious goals to continue to simplify ENGIE at pace to play a key role in accelerating the energy transition and to focus on the long-term profitable growth of the group. Onshore wind can be 1.5 years. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. We have progressed on simplifying the group. Then potentially collaborate/partner with us for less than EUR 10 m in costs, together solving the crucially important 40% of the hours of the month. Maybe I will start with your second question, which relates to the coal used in DHC. If so, do you have a view to what level? Please go ahead. We have in the U.S. the largest development pipeline. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. Are you working on a new organizational format? 2020 was really a milestone year for ENGIE in the U.S. with nearly 2 gigawatts of this new capacity commissioned across four states, taking our total installed renewable generation there to over 3 gigawatts. And Im sure thats a question youve been reflecting on as you took up the new role. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. What are you looking at? And hopefully, we can share more of that in May when we come back to you. Good luck with the new role, Catherine. You will remember last year, we had close to 200 million, which was really driven by 2 things or 2019, sorry, we had roughly 200 million, 2 things. We announced last December that EVBox would be listed on the New York Stock Exchange. This very unusual year translated into a mixed set of numbers. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. Yes. Yes, Judith, just to follow up on the Nuclear, can I just ask setting aside the provisions and the cash payments against those which we know about, can I just ask, do you anticipate any positive free cash flow from the nuclear fleet now in the rest of its life, I mean, if you just look at operating cash flow and essentially operating CapEx that youve got to put in? So lots of enthusiasm around renewable. offers FT membership to read for free. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. Theyre going into similar areas with Networks is an important aspect. So our main working scenario right now is that it wont happen. Engie board set to appoint Catherine MacGregor as new CEO And I look forward to leveraging their strengths to deliver on a full agenda in such critical times for the energy industry and for ENGIE. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. organisation Pay my electricity bill of next year. 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. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? We have some core competencies. And then the second question is more for Judith. We have a very nice digital platform to help us manage our assets better. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . And then, of course, you also remember that, in 2020, we have decided to more consolidation where it makes strategic and financial sense, as it was mentioned earlier. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. And so from a financial impact standpoint, unlikely to be a 2021 story. So again, of course, I mean, it 2020 was heavily impacted. I'm looking forward to continuing to make a difference together. That's where the "trim tab" comes in. Enel nearly tripled, Orsted quadrupled. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? 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. PDF CATHERINE MACGREGOR Directrice Gnrale - Engie So I was wondering whether you could share some thoughts on perhaps where you might be able to get back to perhaps over the medium term in that business? And weve made some moves last year, and we will continue to do that. We will now take our next question from Emmanuel Turpin with Societe Generale. modifier - modifier le code - modifier Wikidata. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July. Catherine MacGREGOR - Les Rencontres conomiques We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. Aarti Singhal - Director of Investor Relations. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. So Ill ask two questions. You have, of course, in mind, that we have committed to fund our waste provision until 2025. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. There is a very, very strong will power within the team to do that. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. So all of the work that we started last year and that we are doing as part of this consultation is to bring these activities into a coherent entity, and this is really happening now with a commonality in terms of mtier, activity type, expertise, purpose and also industrial project. La situation en France depuis plus de 50 ans You can still enjoy your subscription until the end of your current billing period. So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. 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. 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. From November 1st DN Media Group is responsible for controlling your data on Recharge. 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. So hopefully, this helps. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. 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. January 7, 2021. And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. For cost savings, you can change your plan at any time online in the Settings & Account section. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. French utility's new chief Catherine MacGregor to increase investment in renewables. Thank you, Catherine, and good morning, everybody. I mentioned earlier two things actually. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. In 2021, we already have hedged 80% of the production at 46. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. We have made the decision to stop the work to prepare for this such an extension. commentary and analysis you can trust. directrice gnrale d'un groupe industriel nergtique; 25 ans de services, Vincent Collen, David Barroux et Julie Chauveau, , Dcret du 31 dcembre 2020 portant promotion et nomination dans l'ordre national de la Lgion d'honneur, https://fr.wikipedia.org/w/index.php?title=Catherine_MacGregor&oldid=201657000, Portail:Biographie/Articles lis/Sciences, Portail:Biographie/Articles lis/Entreprises, licence Creative Commons attribution, partage dans les mmes conditions, comment citer les auteurs et mentionner la licence. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. 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. cookies So without going into any specific, youre right to say that it does contribute to the simplification efforts. Regarding the organizational simplification, you mentioned complexity of the group. 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. Depending on opportunities, it could be this asset or another one. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* And the answer is yes. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. So these are some of the things that we are excited about when we think about our network assets, and we like it. So to summarize, ENGIE made progress at pace in 2020. On 14th of January, I announced a new executive committee, and Im very pleased that Paulo, Edouard, Ccile and Sbastien have started their new business roles. Now the markets are looking at the remaining energy services. 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. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. On the 100 million, quite frankly, there isnt any unusuals that you should assume. In other words, direct stable energy is needed these hours. Congratulations Engie. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. You mentioned that you would also phase out coal in district heating. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. So no specific things to be taken into account. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Our portfolio of wind and solar assets has an average age of five years with an average residual contract duration of 15 years, which offers us with good visibility of earnings. This has been a concern for the market. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. 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. I think thats clearly something the market will be expecting there. And so to in that respect, I think your comment might be valid. Do you have a vision about taking this proportion of minorities down for the group? Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. Catherine MacGregor Two questions from me. We will run processes. And thats really the key part of what we do. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. How old is Ms MacGregor? Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! https://waves-energy.co/maps/. hosting the engineering activities. PDF CATHERINE MACGREGOR Chief Executive Officer - Engie In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. I think, as you pointed out, theres been a little bit of a race to gigawatts. So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. If you have an ad-blocker enabled you may be blocked from proceeding. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, 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. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Congratulations to all of our employees on the well-deserved bonus. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Current positions of Catherine MacGregor And so we have assumed a very strong recovery like we have seen it in the second half. Aprs avoir t auditionne par les cabinets de recrutement Korn Ferry et NB Lemercier & Associs, elle est nomme directrice gnrale d'Engie le 2 octobre 2020, avec entre en fonctions le 1er janvier 2021. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. No, absolutely. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. Obviously, well give you more color on our ambition on renewables in May. offers FT membership to read for free. Does this mean that Equans is now getting nothing? We will now take our next question from Sam Arie with Union Bank of Switzerland. Its coal exits. A cycle, of course, could be 3, 4, 5 years depending on the country. France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.. Engie said in a statement it had appointed Franco-American oil services firm TechnipFMC executive Catherine MacGregor as new CEO, effective Jan. 1, 2021.
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