Therefore, we do continue that we do think that gas will continue to play a very key role. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. And so every year, we will allocate capital to that, and thats 1.3 billion a year. Now its a little bit difficult for me to really be critical about the past. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Now that doesnt mean that we should not have discipline. Obviously, you did signal that youd be ramping up CapEx. No, thank you. You have, of course, in mind, that we have committed to fund our waste provision until 2025. Yes. Catherine MacGregor is currently Chief Executive Officer and Director at Engie - View - Engie org chart Create your alert to follow the career of Catherine MacGregor. And Judith will give you a little bit of the background and more details on the rest. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. Okay. I think we are now about time, so I would like to thank you for your attention. When expanded it provides a list of search options that will switch the search inputs to match the current selection. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. 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. 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. 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. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. The current total coupon of 100 million per year has been reduced by 28% since 2017. 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. And I just wanted maybe to clarify that the government has not explicitly made the decision. ENGIE thanks you for your participation. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. This really has two reasons. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. It is important to say that our renewables growth ambition is not about entering a gigawatt race. Operator? But now that we have officially become Equans for a few weeks, this message that all ENGIE employees worldwide will receive a bonus of 1500,- comes as a disappointment. I think thats clearly something the market will be expecting there. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. 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. The first is on the Supply business. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. 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. The peer groups done very well. Its, quite frankly, one of the big wins, I think, of last year when you think about it because both operationally to take this company to a level and multiply by almost 10 times their revenue over the last two years. Price is going up. We will make sure that we get the right price. As CEO, Catherine MacGregor will focus on defining and implementing the Group's strategic road map, in particular around the two priority areas announced in July 2020 by the Board of Directors: speeding up growth in renewable energies and energy infrastructure such as cooling and heating networks. Compare Standard and Premium Digital here. 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. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Is this happening to you frequently? 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. How quickly can that new CapEx sort of translate into earnings? Are you talking about Q3, Q4 for the end game? She was in charge of the entitys IPO. Do you have a vision about taking this proportion of minorities down for the group? As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. So no impact there, of course, on G&A reduction and about 800 million of assets. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? 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. And second, its really focused and making sure that everybody pulls in the same direction. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. The biggest, of course, remains Renewables. We expect financial performance to improve significantly from 2020 driven by a combination of strong recovery from COVID impacts, growth in renewables and international networks, improved nuclear availability and higher achieved price, and reversal of warm weather effects. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? or Its been a period in which the sector was exceptionally strong. In Thermal, we expect a COI decrease due to the normalization of a strong 2020 performance in Europe, which was supported by high spark spreads and ancillary contributions. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. We use 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. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. Thank you very much, Judith. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. We support credit card, debit card and PayPal payments. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. 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. And if so, what quantity? And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. We have a lot of experience over the years developed through our generation and thermal activity. Again, especially when it comes to replace when it replace coal. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. cookies Enel nearly tripled, Orsted quadrupled. I'm looking forward to continuing to make a difference together. I was happy to see so many enjoying each others company. Catherine, the floor is yours. We currently have leadership positions in all of these activities, and recent successes include a 30-year contract signed in Monaco to design, build, own and operate a seawater heating and cooling network that will enhance energy efficiency. From 2013 to 2016, she served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the group's drilling activity, based in London. And so were confident to be able to invest in lots of opportunities that Catherine talked about. And as in the past, we will be very mindful of timing. 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. And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. We also benefited from higher contributions of GTT thanks to a strong past order intake. And how quickly do you think it can actually contribute to your earnings, please? And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Thats a good clarification. And the second one is very bad timing. On the other hand, we, obviously, want stability in a power system. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. A cycle, of course, could be 3, 4, 5 years depending on the country. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. 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. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. Is it something that you will tell us more about in May? Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. It seems to be the trend last few questions. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. And given that theyre contracted, to maybe accelerate other areas of the business? 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. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion.