Coronavirus company news summary – Centrica cuts 5,000 jobs – French winter energy supply in doubt

12 June 2020 (Last Updated June 12th, 2020 10:06)

12 June

British energy giant Centrica has decided to cut 5,000 jobs. Over half of the job losses are expected to come from the company's leadership, management, and corporate staff. Centrica CEO Chris O’Shea said: “The changes we are proposing to make are designed to arrest our decline, allow us to focus on our customers and create a sustainable company.”

The International Atomic Energy Agency (IAEA) has said there have not yet been any reports of enforced shutdown of a nuclear power reactor due to the effects of the Covid-19 pandemic on the workforce or supply chains. However, the pandemic has impacted operations in several ways including delays in planned outages and maintenance schedules.

France is "unlikely" to experience widespread power blackouts or shortages in spite of the nuclear reactor disruptions. Head of French electricity grid operator RTE Francois Brottes said the country may have to import power to ensure supply during winter, although supply for the summer is secure.

The Chinese government has released new draft proposals to assist the solar photovoltaic manufacturing industry in promoting sustainable and healthy development. As per the proposals, manufacturing units need to comply with environmental regulations and energy-saving measures. Production facilities will also have their natural resource development and utilisation monitored.