Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. Learn more in our Cookie Policy. What is the identity of the Thermal business? We have progressed on simplifying the group. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. Its going to take us some time. Very yes, good question. I will now hand you back to Catherine for our 2021 priorities. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. We are assessing the situation, which mainly affects renewables and supply activities. 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. We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. So thank you very much, and bye-bye. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. 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. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. Iberdrola shares nearly doubled. In this uncertain environment, ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance and we have stayed on track! And so from a financial impact standpoint, unlikely to be a 2021 story. Thank you, Sam, for this question. Let me give you the 2020 COI highlights. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. 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. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. This is particularly noteworthy in the context of the unprecedented pandemic. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Catherine MacGregor est elle-mme mre de deux filles[2]. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Live from New York and. Its not like a 2020 event. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. In other words, direct stable energy is needed these hours. We use Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. 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. #buckminsterfuller #trimtab #climatechange. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. But in short, we have big ambition, but we will be disciplined. I have a couple of questions, 1 for Catherine and 1 for Judith. 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. So these are some of the things that we are excited about when we think about our network assets, and we like it. Enel nearly tripled, Orsted quadrupled. So yes. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. I think these are really, really good questions. Chef d'Agence Filire Vente Centre Ouest chez GRDF, Thank you Catherine Fiamma MacGregor for your post that combine strategy, progress and well-balanced energy mix (#renewable #gaz #power) to confirm meaning and a consistent vision to our company, not to mention the recognition. Thank you, Emmanuel, for your questions. Welcome to the utilities world. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. First, we recorded significant impairments mainly driven by the 2.9 billion nuclear impairment caused by the change in lifetime assumption for Belgian nuclear reactors as well as by changes in the commodity price scenario. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Vocs conseguem nos apoiar? 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. Yes. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. Catherine MacGregor est elle-mme mre de deux filles 2 . Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. If you have an ad-blocker enabled you may be blocked from proceeding. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. I was happy to see so many enjoying each others company. And then, of course, right after that, you have hydrogen. 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. 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. 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. Hopefully, thats an easy one, but would be very helpful. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. 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. A quick word on the agenda for this morning. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. #mixedfeeling :D No, absolutely. COI decreased mainly driven by a 600 million impact from the pandemic. Sure. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Yes. 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. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Elle y dirige des activits de forage au Congo, en Mer du Nord 3, aux tats-Unis, en Malaisie, au Royaume-Uni et en France 4. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. This really has two reasons. On your two questions, 1 was on the tax rate. And so we will not give specific assets, of course, at any given time. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. She has spent her entire professional career working in the energy sector. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. And so were excited about this transaction. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. And then on your DBSO question, what were expecting for 2021 is roughly in line with what we had in 2020, so just below 100 million. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. And what is your philosophy there? - Play an important role in ensuring security of supply for France and Europe The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. A very fine, humane gesture that you promised your ENGIE colleagues. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. 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Net income group share stood at negative 1.5 billion. You can update your choices at any time in your settings. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. A short stay for a rich experience and deep learning. So can you be a little bit more specific about where the extra CapEx is being spent this year and how youve been able to ramp it up so quickly? Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. Organically, these evolutions were slightly better. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Posted mercredi, avril 14 2021 Last month, with her feet barely under the desk, Catherine MacGregor was required to appear before the French senate's economic affairs committee be grilled on Engie's strategy. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Moving to Networks, which were resilient despite the pandemic. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. In 2021, we already have hedged 80% of the production at 46. 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. We have a team of about 300 developers who are really good at what they do. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. 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. And so these are some of the things that complexity and ability to manage activities that are very, very different from each other, I think really get in the way of performance. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. But is it bad? And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. Our environment is changing. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. My first reaction with the bonus: Wow great ! 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. Before I say more on this, let me review the groups overall 2020 performance. hosting the engineering activities. 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, the companys statement reads. 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. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . Together, let's continue to make a difference! Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). So maybe I will start with your last question, which is around the decision on nuclear. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. So here, generally, the question, how do you think about the future of the gas networks? Pay my electricity bill of next year. In Latin America, COI was up significantly, driven by the scope in effect and higher organic contribution of TAG, which, Im very pleased to say, has outperformed our expectations. Current positions of Catherine MacGregor Our near-term priority in the region is to commission two major electricity transmission projects. 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. The key here is really to give that business its own industrial project, its own identity. I guess, whats the kind of your average period of sort of non-productive capital work in progress? A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. Nothing much more structural than that really, James, on supply improvement. I have proper control over all inventory department with the skill of my Minimum and Maximum stock levels, Gerente Industrial | Gesto de Operaes e Servios | Supply Chain | Engenheiro de Produo | leo e Gs | Suporte Tcnico | Produo | Gesto da Qualidade, Pessoal, eu criei esta Proposta de Ideia Legislativa no Senado Federal que se transformada em lei criar as Poltica Nacional de Incluso das Pessoas 50+. What you would be looking for? This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. Thank you. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. Thats really clear. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Within this guidance, we have included our current estimate of the potential impact. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. Solvay Alpharetta celebrates Black History Month. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. And then the second question is more for Judith. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Were very pleased. And weve made some moves last year, and we will continue to do that. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. Some others, there is still a good portion of assumption that there might be a stranded asset. Its coal exits. On May 18, 2021, ENGIE's Chief Executive Officer Catherine MacGregor unveiled the Group's strategic roadmap, to reaffirm ENGIE as a leader in the energy transition. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Dans intrt de la France, We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. How old is Ms MacGregor? The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. Great post Catherine Fiamma MacGregor! Two questions from me. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. And as in the past, we will be very mindful of timing. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. Networks were mainly impacted by warm temperatures and by higher D&A. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. For a full comparison of Standard and Premium Digital, click here. Please. There is a very, very strong will power within the team to do that. Simply log into Settings & Account and select "Cancel" on the right-hand side. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. Thank you, Catherine, and good morning, everybody. We think, in general, gas is going to be important in this energy transition. 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. Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). You have, of course, in mind, that we have committed to fund our waste provision until 2025. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. And thats really the key part of what we do. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. Thank you very much, James, for your question. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. 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.
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