We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. And sorry, just a follow-up on the CapEx. I was very pleased to participate in the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council, and the 1st Ministerial Meeting of the Green Energy Advisory Council, held in #Azerbaijan last week. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. And we will now take a last question from Louis Boujard with ODDO. 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. It will also require some infrastructure, maybe not with the same density at todays gas network. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. 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. Curious as to what my Linkedin connections think. 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. Enel nearly tripled, Orsted quadrupled. The key here is really to give that business its own industrial project, its own identity. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. or You mentioned the COVID impact and how to think about it in 2021. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. So youve been talking about investment discipline. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. And the second one, if I may ask, around Client Solutions. We are assessing the situation, which mainly affects renewables and supply activities. Good morning, everyone. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? On your two questions, 1 was on the tax rate. Onshore wind can be 1.5 years. If you have an ad-blocker enabled you may be blocked from proceeding. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. 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. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. Name: Katherine MacGregor Birth Year: 1925 Birth date: January 12, 1925 Birth State: California Birth City: Glendale Birth Country: United States Gender: Female Best Known For: Katherine. Yes. 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. click here. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. You may change or cancel your subscription or trial at any time online. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Check if your So yes. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. A cycle, of course, could be 3, 4, 5 years depending on the country. Please disable your ad-blocker and refresh. For cost savings, you can change your plan at any time online in the Settings & Account section. What are you looking at? Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. She has spent her entire professional career working in the energy sector. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. Pay my electricity bill of next year. Or does it have its own game plan? 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. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? 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. Catherine MacGregor Wikipdia From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, And Ill turn to Judith maybe for the cash flow from Nuclear. To Engie in my case. Welcome to the sector, indeed. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. 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 button displays the currently selected search type. All options considered for Engie's services business sale-CEO And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. Net recurring income group share was in line with guidance but at the bottom end of the range. You can store it. Obviously, well give you more color on our ambition on renewables in May. 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. I have one question for Judith and one for Catherine, please. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. She occupied a number of roles in various geographies (Republic of Congo, the US, Malaysia, ): from Director of Business Entities (Wireline, Reservoir Characterization, Drilling, ) to Regional Division (Europe and Africa). Pour viter se gchis financier avec l'argent des franais ENGIE - Catherine MacGregor, Chief Executive Officer of ENGIE from 1 And weve made some moves last year, and we will continue to do that. 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. You can still enjoy your subscription until the end of your current billing period. Now the guidance for 2021. Even if you ten-double the installations of these sources, the 40% remains. Judith? Thank you Renata Spada for being yourself and authentic. 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. Or is it your budget of the COI for these businesses in 2021? Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. 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. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? On the other hand, we, obviously, want stability in a power system. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. 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. We will now take our next question from Peter Bisztyga with Bank of America. French Networks had limited COVID impact also mainly on distributed gas volumes. Hopefully, thats an easy one, but would be very helpful. 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We delivered for our customers while continuing to invest in major capital projects. Let me now turn to our ESG performance. Regarding the organizational simplification, you mentioned complexity of the group. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. And if so, what quantity? Next, a few words on the bridge from EBITDA to net recurring income group share. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. So again, of course, I mean, it 2020 was heavily impacted. So on EVBox, were very happy to have announced this transaction. Okay. 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. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. Catherine, the floor is yours. In addition, the extension of fair value accounting to a European gas contract and its related assets also led to a net impairment of 500 million. 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. I was happy to see so many enjoying each others company. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. But in short, we have big ambition, but we will be disciplined. janvier 2021 en qualit de Directrice Gnrale. 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. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. 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? With respect to the recent extreme weather events in Texas, we are assessing the situation. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Excellent example of circular economy ! Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Current positions of Catherine MacGregor 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. You can still enjoy your subscription until the end of your current billing period. Therefore, we do continue that we do think that gas will continue to play a very key role. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial In Nuclear, following the announcements of the Belgian government in Q4 2020, it has been decided to stop all preparation works that would allow a 20-year extension of two units beyond 2025, as it seems unlikely that such an extension can take place given the technical and the regulatory constraints. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. Obviously, we have made the decision to exit the coal, which is run under Thermal. We have a team of about 300 developers who are really good at what they do. We announced last December that EVBox would be listed on the New York Stock Exchange. 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. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. 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 . This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. This is particularly noteworthy in the context of the unprecedented pandemic. 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. So no impact there, of course, on G&A reduction and about 800 million of assets. And so were excited about this transaction. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. How old is Ms MacGregor? In terms of geography, we have a strong hold in Europe. 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. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. 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. Obviously, you did signal that youd be ramping up CapEx. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. Congratulations to all of our employees on the well-deserved bonus. Engie board set to appoint Catherine MacGregor as new CEO. 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. Ms MacGregor is 48, she's been the Chief Exec. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. And what is your philosophy there? Sign up for more in-depth articles and insights. 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. [Foreign Language]. Together, let's continue to make a difference! For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. What you would be looking for? 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. Indeed, you can expect positive cash flow operation from our nuclear activities. Very yes, good question. Before I share my view on 2021, here are our 2020 financial highlights. We will run processes. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. As always, my team and I are here to assist you, so do please reach out. We have not seen prices like this in many years. 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. Is this happening to you frequently? As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. Catherine MacGregor - Forbes Thank you, Emmanuel, for your questions. You can read more about how we handle your information in our privacy policy. Please go ahead. But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. A quick word on the agenda for this morning. Thats one thing. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. #mixedfeeling :D Why the effort to reorganize this entity given the strategic review regarding a potential disposal? If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. 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. 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. There are 25 older and 1 younger executives at ENGIE SA. COI decreased mainly driven by a 600 million impact from the pandemic. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. 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? However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. And the second one is very bad timing. You can update your choices at any time in your settings. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. You may change or cancel your subscription or trial at any time online. Hopefully you can also take this into account? Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium French utility's new chief Catherine MacGregor to increase investment in renewables. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer. Elle est alors nomme prsidente New Ventures de TechnipFMC. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. 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. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. Catherine MacGregor will join Engie as CEO. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. Were going to really focus on a few geographies. So our main working scenario right now is that it wont happen. She occupied a number of roles within [] Biography of Catherine MacGregor - The Official Board And yes, let me start by saying also welcome and wishing you success in the new role.