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. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. Yes. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7]. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. 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. 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. personalising content and ads, providing social media features and to Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Pascal Frings., Assistente de Planejamento e Controle I | ENGIE Brasil | Gesto de Frotas | Logstica | Atendimento ao Cliente | Administrao Estcio, Bizarre, je suis un employ d'Engie et je n'ai pas reu , I am really very Happy after Hearing that Engie is going to make strong and strong renewable resources that makes to process competency of whole work which is going on this projects as i would proudly feel good i wish if you have any vacancy in the Engie organization i would definitely prefer to work this organisation as my last experience were quite satisfactory in Allied Maintenance Company Pvt Ltd at Tabuk Project in Saudi Arabia even i was working two years as store supervisor in Tabuk Projects i forwarded my resume to one of your recruiter for store supervisor as i have 12 years experience in the maintenance Departments like Civil, Plumbing, Mechanical,HVAC, Gardening, Cleaning and most importantly PGP Department. But the idea is that for the big production projects, we will give the Thermal people and the Thermal team, the responsibility to run those hydrogen production plans and projects because some of the skills are actually quite similar. A very fine, humane gesture that you promised your ENGIE colleagues. From November 1st DN Media Group is responsible for controlling your data on Recharge. Let me now turn to our ESG performance. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Were very pleased. And then, of course, now this partial sell down that were planning into a SPAC transaction. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. 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. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. Engie - Franzsischer Energieversorger berzeugt uro am Sonntag" mit Select Accept to consent or Reject to decline non-essential cookies for this use. French utility's new chief Catherine MacGregor to increase investment in renewables. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. And Im going to pass it on to Judith to comment maybe on the other questions. So for my question, the first is on the asset rotation. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. And Judith, you want to comment, please, on the impairment? The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. 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. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. 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. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. You can update your choices at any time in your settings. And hopefully, we can share more of that in May when we come back to you. 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. It's inspiring to see how ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance in these uncertain times. Congratulations Engie. Obviously, we have made the decision to exit the coal, which is run under Thermal. This is value neutral over time as D&A is integrated in the regulated revenue. You can read more about how we handle your information in our privacy policy. H2, 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. - Contribute to measures to support purchasing power Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Do you see eventually opportunities in the future going forward with the convergence between power network and gas network considering the evolution of the hydrogen, Catherine? EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. No, absolutely. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. You mentioned the COVID impact and how to think about it in 2021. 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! To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. And then just another one on guidance. Let me now focus on the evolution of net debt and on our leverage ratios. So again, of course, I mean, it 2020 was heavily impacted. You may change or cancel your subscription or trial at any time online. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. She has spent her entire career in the energy sector. En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. Thats a good clarification. Compare Standard and Premium Digital here. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. It will also require some infrastructure, maybe not with the same density at todays gas network. We will make sure that we get the right price. If you have an ad-blocker enabled you may be blocked from proceeding. Obviously, well give you more color on our ambition on renewables in May. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. For cost savings, you can change your plan at any time online in the Settings & Account section. We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. We have made the decision to stop the work to prepare for this such an extension. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. Il serait pertinent de se concentrer sur l'aprs nuclaire, Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. On quick one on numbers, on guidance. Even if you ten-double the installations of these sources, the 40% remains. So when you will reinvest? A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. If so, do you have a view to what level? Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. #buckminsterfuller #trimtab #climatechange. And that will be something that we will be describing a bit more in details in May. So again, when you think about the business and the need to have a resilient power system, gas has actually a very critical role to play. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. She has managed numerous complex industrial projects, both . Stay informed and spot emerging risks and opportunities with independent global reporting, expert And then I also had a question on the coal phase out. This will mean a transition based on a combination of electrification and decarbonization of gas as well as on the development of flexible and resilient energy systems. So our main working scenario right now is that it wont happen. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Engie board set to appoint Catherine MacGregor as new CEO A key area of value creation from renewables is the ability to commercialize energy with new and innovative solutions for customers, and we have made great progress on this front. In terms of geography, we have a strong hold in Europe. In 2020, most of our newly commissioned assets were onshore wind followed by solar. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. Check if your The key here is really to give that business its own industrial project, its own identity. So in general, we have 31-gigawatt portfolio. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Pour viter se gchis financier avec l'argent des franais Welcome to the utilities world. This is particularly noteworthy in the context of the unprecedented pandemic. And the answer is yes. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. And we will now take a last question from Louis Boujard with ODDO. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. Biography. Current positions of Catherine MacGregor "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." Holidays ? 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. But is it bad? Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). I was happy to see so many enjoying each others company. To remind, the company said in July that it intends to implement a new capital allocation strategy, focusing on two growth areas servicing the energy transition. CEO - Engie. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Regarding the organizational simplification, you mentioned complexity of the group. Thank you very much, Judith. university A cycle, of course, could be 3, 4, 5 years depending on the country. 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. And so we have assumed a very strong recovery like we have seen it in the second half. Yes. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. We invested 7.7 billion of CapEx in total. 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. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. That will put pressure on Ms MacGregor to make her mark . So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us.