Engie made about 1 billion euros from Belgian nuclear power in 2024

French energy giant Engie made 1.45 billion euros in operational profit from its nuclear activities in 2024, more than doubling its 2023 earnings. About 1 billion euros from this profit came from its Belgian reactors, with the remaining portion from rights to French nuclear plants. 

Engie’s earnings before interest and taxes (EBIT) in 2024 were significantly higher than the 605 million euros recorded in 2023. The end of the excess profit tax (scrapped in mid-2023) outweighed the financial impact of shutting down the Tihange 2 reactor in early 2023 and a drop in reactor availability from 88.8 per cent to 86.2 per cent (which was mainly due to months-long repairs at Doel 4).

Engie’s total net profit for 2024 reached 4.1 billion euros, nearly double the previous year. This is also largely attributed to its Belgian nuclear operations. Without them, the company’s profits would have declined. Group revenue, however, fell by 10 per cent to 73,8 billion euros. 

Investors reacted positively to an improved 2025 profit forecast. Engie’s share price was pushed up more than 6 per cent on Thursday morning. 

Nuclear plans

Engie currently operates four nuclear reactors in Belgium: Tihange 1, Tihange 3, Doel 2 and Doel 4. Doel 3 was shut down in 2022, followed by Tihange 2 in 2023. Just two weeks ago, Doel 1, the country’s oldest reactor, was permanently closed after 50 years. Later this year, Tihange 1 and Doel 2 will also be taken offline.

However, the Belgian government has extended the lifespan of Doel 4 and Tihange 3 by ten years, until 2035. This decision was recently approved by the European Commission. 

Prime minister Bart De Wever’s government furthermore aims to extend their operation by at least another decade. Engie, however, has repeatedly stated it does not support further extensions and does not see nuclear power as part of its long-term strategy.
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​^{The nuclear power plan in Doel © BELGA PHOTO DIRK WAEM}