Thank you and good morning, everyone, and I am very happy to welcome you to this press conference, presentation of the EDF Group's annual results. Alongside me will be Claude Laruelle, our executive director, formerly in charge of the group's performance, impact, investment, and finance department, who joined us on September 1st. We also have members of the executive committee here, and I take this opportunity to welcome Béatrice Bigois, who has been appointed executive director in charge of the Customer, Services, and Territories Division on January 1st, 2026. Thank you for being here, Béatrice. Before Claude presents the financial results in detail and before we answer your questions, I will give some elements of indicators that are important to us. I start, as always, with safety, security, and health, which are the group's number one priority, and so first and foremost, nuclear safety. So we track events of level one and above per reactor. So we end the year with 1.18 events per reactor. Now, Flamanville 3, and so it is in the order of magnitude that we are looking for. Now, there is a continuous project logic, and we want to improve this result by another 10% in 2026. Regarding the safety of employees, service providers, and subcontractors who work daily in our facilities, we track what we call the LTIR, Lost Time Incident Rate, which is the number of lost time accidents per million hours worked. We are ending the year with a rate of 1.6, which is okay for the industry, but we like challenges, and we are taking on the challenge this year of improving it by 30%, and in any case, to guarantee that we will continue to improve it by at least 10%. We also monitor what is called the shooting rate, the accident frequency rate, with or without a stoppage. We ended the year with a rate of 3 points. We also highlight absenteeism. So ours, our absenteeism rate is lower than the French average, but for us, it's a work topic, a topic we talk about. We are at an average of 8.3 days per employee at the end of the year, and I think we can continue to progress in conjunction with social partners, in conjunction with employees, in conjunction with management, and we have set ourselves a target of getting below 7.5 days per year per employee by 2026. In addition to safety, security, and health, we have other cross-cutting objectives, which are quality and lead time. When it comes to quality, I'll start with customer satisfaction. We measure customer satisfaction, and 86% of our individual customers express their satisfaction, 87% in B2B. My colleagues tell me that this is a record level in our history, but we remain humble, and we want to continue working. Customer satisfaction is also important. In terms of quality... Well, an important point for me in nuclear engineering, the teams have improved on average by about 8 points, the on-time delivery rate among suppliers included in the supplier support programs. That is very important because this ability to work within deadlines is a success factor for large projects, especially loss programs. We ask our industrial subsidiaries, notably Arabelle Solutions, to measure their number of customer quality gaps per million hours worked and to improve it by 25% per year, which is what Framatome has been doing for the past few years, and that rate was divided by 5. We need to continue improving quality, so lead time is the time to get things done. There has been progress, and it's starting with the French nuclear power plant and its output. There is the existing program, Start 2025. There start means it's for... Let us all be involved in controlling the outage. This is a large-scale program that was launched as early as 2019 to guarantee the success of maintenance shutdowns. This success is one of the primary factors in the performance of nuclear output, and the fleet continued to grow even further in 2025. 23 out of 43 stops were able to be made recoupling before the scheduled date. This was a new record compared to the previous one, which was 17 out of 41 in 2020. There are some sites that have truly achieved historic performances. Cruas, the 10-year visit of Unit 3. Unit 3 was able to restart 12.9 days ahead of schedule at Paluel for the partial visit of Unit 4, 8.9 days ahead of schedule at Tricastin. Simple stops reloading 9 to 8 days ahead of schedule, and our colleagues are measuring what they call Milestone 22. That's when we shut down the facilities. We will remove the first compatible assembly. There has been a rather spectacular progression in adherence to schedules for this milestone, with 22% of stops being respected in 2019, 40% in 2022, nearly 70% in 2023 and 2024, and now 88% in 2025. So Etienne, we're still waiting for 2026. The preparations are optimized. The teams have halved the preparation time for simple shutdowns and then restarting the reactors with ambitious targets, 40% of restarts within the on schedule in 2024. We're at 19%, so this result was possible thanks to the mobilization of the teams. Synergies also exist between engineering, the park, and also the partners, and I salute his own.... A word also on lead time. We are deploying optimized monitoring of our suppliers, so 316 have been subject to this optimization. This allows us to gain 30% in lead time, which is always important in the perspective of reactor lifespan increases, major construction projects, and reactor construction. We can already achieve 30%, and that's just the beginning, if only for the optimization of monitoring. Therefore, safety, security, health, quality, and lead time. Now, if we look at 2025, the theme has been to mobilize EDF on its strengths. So first and foremost, the important thing is to give the customers the importance they deserve. And here I will mention the development of the trade policy and 47 TWh of medium and long-term contracts have been signed until the end of 2025. Secondly, this is the park's second strong point, and here we're talking about nuclear power output. In France, output was up to 373 TWh. This represents an increase of 11.3 TWh compared to 2024. And this allowed, as we published some time ago, a record net electricity export of 92.3 TWh. Another strong point for us is the hydroelectric park. So 2024 had a completely out of the ordinary hydraulic system, but our colleagues had a very good year with 42.6 TWh of output. Beyond our objectives, what we can highlight is the record output of STEP, which is that you have the water, you produce the electricity, you recover the water at the bottom, you pump it back to produce electricity, especially when the cost of electricity is low. And our colleagues have broken the pumped storage power plant output record, which now stands at 6 TWh, and that goes back to the previous record, which was in 2014. So the reconquest also involves hydraulics and wastewater treatment plants. There has also been progress in nuclear projects. At EDF, we all remember that on December 14th, 2024, it was 100% power on Flamanville 3. We presented the provisional estimate of the EPR2 program. We are continuing preparatory work on the Penly EPR site. Sizewell C benefited from an investment decision final, and I would add a cross-cutting strength here, which is skills. This is crucial for us, and in 2025, 14,235 new colleagues on permanent contracts and 9,750 apprentices were present at the end of the year. So those are the key areas we worked on. So if I come back perhaps with more details on the clients, and we are committed to industrial sovereignty, and we support our clients. So I mentioned the 47 TWh of medium and long-term contracts, 18,000 medium and long-term contracts. 18 long-term contracts were signed with energy-intensive industries, including 12 CAPN nuclear output allocation contracts. This is the figure for the end of 2025. Thanks. Thank you for being there. That was the one from before. So thanks. The... In the meantime, you saw that we reached an agreement with Exeltium, but that was at the beginning of the year. Exeltium, that's up to 10 terawatt-hours per unit. We also extended the nuclear output allocation contracts, contracts of allocation of nuclear output at the end of the year to end consumers who consume more than 7 gigawatt-hours from energy-producing suppliers. That was their request, and we would also like to be able to benefit from this type of contract for individuals. We have the G4, one of the four main countries, essentially on France. We have 41 million contracts and a stability of our contracts, and of which 22.7 million customers. Electricity, yes! For these customers, 5,000 advisors are available to advise them, to offer them the most suitable deals, to better control their consumption, and to facilitate their switch to electric. I salute my 5,000 fellow advisors. Next, I think it is important to mention here that our customers are attentive to the stability of the electrical system, particularly in island electrical systems, and we inaugurated at the end of the year in Guadeloupe, the installation of a first synchronous compensator. In these territories, we have more renewables, but we lose engine profits. What we call inertia and CGN are likely to strengthen the stability of electrical systems. I also have in mind the fact that we are building a second transformer in Martinique to secure the island's electricity supply. A pure commitment to our clients. Of course, the topic of electrification of uses is important. In particular, more than 400,000 charging points for electric vehicles are deployed and managed. And then there's the issue of data centers. We offered the land. We made calls for expressions of interest with two winners: OpCore, a subsidiary of the French group Iliad for call for tender de Montereau, and Eclairion for call for tender de Moselle. These are 60 hectares that have been developed with 1 GW of new power installed in France. And then, in December, we launched a new call for expressions of interest, call for tender, on the site of a former thermal power plant in the town of Loiret. In our presence too, our strengthening of our presence in the heat networks. Good. With the subject of renewing the concession for the Paris heating network and the Paris Council chose the Dalkia Eiffage, our RATP Solutions Ville group, and we can also mention contracts signed by Dalkia in 2025, which represent 1.4 TWh per year of low-carbon heat for urban networks outside Paris. For example, one day, I was in Belfort and the mayor of Belfort. We are on the Dalkia district heating network. So the customers, the second important aspect for us, well, is our output. So output, resilience, and sovereignty. So 515 TWh in 2025 and close to 520 of 2024. So what's behind it? Well, the increase in output from the nuclear fleet, which is more than 10.3 TWh to 373 TWh, is less than that from hydroelectric power due to the hydroelectric power. In total, that's -10 TWh across all our output, and then a little less output in Great Britain, around -4 TWh with a fleet which tends to age, therefore, reducing output. Now there is also a whole investment project to improve the availability and resilience of hydraulic infrastructure. Clearly, we are making progress, and otherwise, our nuclear fleet is unavailable approximately 0.3% per year because there is another place where there is an event of this nature. It may seem like a small amount, but we have teams that are looking ahead, and we have been working on our climate adaptation plan for 2040, and we have identified an effort that could amount to up to EUR 9 billion. And so we communicated this climate change adaptation plan for our nuclear fleet to the relevant ministries. To be complete, we can also mention Enedis, which is committed to an investment plan of EUR 26 billion over the period 2026 to 2040 for the modernization and resilience of its network, including more than EUR 15 billion for adaptation to climate change. These are figures in current euros. So we mention an industrial policy in the service of sovereignty because all these investment initiatives put a strain on the industrial fabric. We have developed partnerships, and at the same time, in some cases, we intervene in the spirit. The fact that Framatome intervened in the valve industry is a sensitive subject for civil nuclear power, but also, in some cases, for nuclear propulsion, with the takeover of Vanadium in 2024, and then most recently, that of Segault and that of Velan in France, which has been renamed Valvert. New colleagues have joined us and are actively involved in our various programs. There are significant investments in industrial equipment. I was talking about Belfort earlier. We announced an investment of EUR 350 million at the Belfort site. These are repatriations of output that had gone abroad. These are additional workload plans, additional output capacity, and the number of employees will increase from 2,400 to 2,600 jobs by 2030. There are also significant investments in companies like Framatome. Then on the nuclear power plant, 13 reactors among those of 900 MW will be equipped with new, more powerful turbines. This allows us to gain at least 35 MW per reactor. The gain? Of course, there are also EUR 4.5 billion planned in our medium-term plan for our hydroelectric business. So we have many low-carbon projects that are being rolled out, and we are pursuing them. I mentioned Flamanville earlier, the 3, the one from them, and then Hinkley Point, where the delivery of the Unit 2 reactor vessel took place, and our colleagues are now working on a ramp-up. The civil engineering work for reactor 1 is almost 95% complete. Now, the teams are mobilized, what is called the assembly of the electromechanical batch and ramping up output. So they doubled the pace in the last quarter of the year, and they continue to increase the pace. We are still counting on a ramp-up in output within the planning ranges. It still seemed reasonable to us to place the commissioning in 2030 instead of 2009-2029. This does not change our planning timeframes, and that's exactly what we did. Next, Sizewell C, therefore, the final investment decision, which was accompanied by the payment of GBP 1.6 billion, which came to complete our cash flow cogeneration at the end of 2025. So in the field of hydraulics, there is an agreement in principle with the European Commission, a bill that is currently being examined in Parliament, and which will therefore allow us to revive our investments. We plan to increase our output capacity by an additional 4 GW, notably with pumped storage hydroelectric plants. And then in renewables, well, our colleagues continued to deliver. They delivered 3 GW of raw power, which were put into service. I would like to mention Provence Grand Large, the commissioning of the first floating wind farm in France. So thank you. That's kind. So low-carbon projects, but of course, there are networks which are important, so mention can be the renewal of the concession contract, distribution, electricity supply between SIPPEREC, Enedis, and EDF. This is a contract that covers the management of the network of 17,663 kilometers of electrical lines, serving 3.5 million inhabitants in three departments of the first ring of the Île-de-France region. Enedis has connected more than 11,700 delivery points, supplying 486,000 electric vehicle charging points in 25 years, representing 4.4 GW, and between 2022 and 2025, EDF, it was divided in half. The average connection time for consumption and output facilities. As for Enedis, then what is called criterion B, is the average downtime, excluding exceptional events, has been reduced from 71.6 minutes to 61.9. Of course, there are also exceptional events. This year, it experienced the activation of a rapid electricity intervention force, Storm Goretti, with 90% of customers restored in 36 hours, which mobilized 1,850 Enedis technicians and partner companies. Storm Niels, with 85% of customers restored in 48 hours, mobilization of more than 3,000 Enedis technicians and partner companies. Maintenance and Pedro, in the morning, our colleagues are mobilized again. I commend our colleagues for their commitment to this. And then, of course, we say that's 90%, but there's still 10% of customers left. We know that it is difficult for them to cope with daily life, and we are very focused on continuing to strengthen our resilience. So there are networks and a need for flexibility in a world where the electrical system is more complex, and there are already answers being put in place. The famous off-peak hours system, which allows for more, centered on the period around 12:00 P.M., will affect 1.7 million customers. And so the deployment has already begun. It will allow us to shift about 5 GW of consumption to times when solar output allows it. There are also flexibility offers available to customers. There are more than 20% more controllable charging points compared to the end of 2024, and also now more than 1.2 million residential customers in France benefiting from flexibility offers. There are the pumped storage power plants, PSBs, the contracted hydroelectric power plants that I mentioned, but we are also working on storage and 1 GW in operation and 2.7 GW in the project. I have in mind the 15-MW hybrid battery that was coupled to the Blenod power plant. It's a battery that also helps the primary school child, but also softens situations for our Blenod gas combined cycle. You also mentioned, of course, the investment in Maripasoula, French Guiana, with a 1.2-MW solar power plant, a battery system, and a smart grid intelligent network. So we can see that in this system, there is more modulation. That was the subject of many, too, comments that I've been able to read here and there. Indeed, there are modulation issues. Okay, so what's going on? The French nuclear power plant was built to be able to modulate a reactor. It can adjust its power by 80% in 30 minutes, twice a day, when it is at the end of its fuel cycle, and our ancestors adapted. Generally, it was on weekends, at night, and there was a peak in modulation in 1994, above 50 TWh, because the three hundred plateau, the 300 MW level, was brought into service, and the peak was absorbed by the increase in consumption. So we had dropped to 15 TWh of modulation. It went back up to over 30-33 TWh last year. What's new is the frequency, so it happens more often, so it can happen several times a day. And the depth, when it modulates, it modulates. It can even lead to the shutdown of the reactors. So of course, our colleagues ensure safety. That said, it is still a system that is more demanding in terms of staffing levels. It can happen at any time, these requests for adjustments. And then for certain equipment, the pumps, the motors, the turbines, things like that wear out faster. So that's what we identified. Moreover, it also wears out faster in hydraulics. It also wears out faster in the gas systems we have. And so it's a report that puts things into perspective, that takes stock of the situation, makes an observation, and lays out a working basis for further consideration. We look at the cost, we look at the laws of physics, of stability, and that will allow me to progress objectively, and that's what we're currently working on. [Foreign language] If I had to pick out some indicators for 2025, including 488 terawatt-hours of decarbonized output, versus 490 in 2024, minus 26.5 grams of CO2 per kilowatt hour, so it's a carbon intensity that continues to decrease. We are down by a little over 10% compared to 2024, and then a very big issue for us is that this mobilization of the teams led to EUR 9.6 billion in operating cash flow. It's certainly less than 2024, which was a year ago, and that allowed us to reduce it. Financial debt, net income falls to EUR 51.5 billion, compared to EUR 54.3 billion in 2024, and all this based on an EBITDA that we describe as solid because it is solid at EUR 29.3 billion. While admittedly less than EUR 36.5 billion, there is a context of falling prices, but a solid one, thanks in particular to the output of the nuclear fleet and also to the good performance of other activities. That's how I got into economics and finance. Claude, it's your turn. Thank you, Bernard, and hello to everyone. I am pleased to present to you for the first time EDF's financial results for the year 2025. Before going into detail, I suggest we first look back at the key figures of the past year. Revenue amounted to EUR 113.3 billion. It is slightly down due to the downward trend in prices. EBITDA, meanwhile, reached EUR 29.3 billion. As Bernard pointed out, it's a solid figure, thanks to a good level of output. This is also in a context of falling prices. It is located in the upper part of the projection that was shared with you a year ago during the presentation of the 2024 results by my predecessor. The value of bits is EUR 13.1 billion. It was EUR 18.3 billion in 2024. Finally, the current net income attributable to the group amounts to EUR 9.6 billion, and the net income attributable to the group, respectively, amounting to EUR 8.4 billion. These results enabled the generation of an operating cash flow of EUR 9.6 billion, as Bernard pointed out, and contributed to a reduction in net financial debt of EUR 2.9 billion to EUR 51.5 billion at the end of 2025. Our ratios are at a very good level again this year, 1.8x for net financial debt on EBITDA, and if we look at the SNPI methodology, 2.6x for the adjusted economic debt, adjusted security. In mid-January, SNPI raised the rating of the EDF Group to BBB+ with a stable outlook, highlighting, among other things, the improvement in the Group's operational performance. This operational performance was reflected in particular. As Bernard presented to you earlier, this was due to a significant increase in nuclear output in France, which reached 373 TWh. We have to go back 6 years to 2019 to find equivalent results. This is the result of the work carried out by the teams on the ground, and in particular, the results of the Start 2025 program, which made it possible to reduce the duration of the shutdowns of Unit 2025 and also saw the first contribution of Flamanville 3 to the output of the group, with a little over 2 terawatt-hours generated during its power-up phase. The availability of our hydraulic structures was also very good, allowing France to reach an output level of 42.6 terawatt-hours. The figure is nevertheless lower than in 2024, which was an exceptional year for hydraulics, as illustrated by the graph at the bottom right of the slide. The annual cumulative hydraulics index has returned to a value close to the average at 96%, whereas in 2024, an exceptional year, it was 126%. Now, if we go into detail about the main effects, which explains the evolution of EBITDA, first, the volume effect, which is presented on this graph by the first two bricks. Firstly, output, the growth of nuclear output in France, partly reduced by the decline in nuclear output in the United Kingdom, contributed positively to the tune of EUR 0.4 billion. The decline in hydroelectric output, particularly in France, in the context of reduced hydraulics that I described, accounts for a loss of EUR 1.4 billion. Next, the price effect in the following two bricks. F irstly, a negative effect of -EUR 6.2 billion, which reflects the impact of the drop in electricity prices on our sales, and a positive effect of EUR 1.7 billion for the year, mainly due to the impact of the increase in the TURPE, the distribution tariff in line with the increase in investments for adaptation to climate change and new connections, and also the buyback of losses to the network carried out at market prices obviously lower than in 2024. Finally, the last column groups together various effects, including the decline in EBITDA of EDF Trading in a context of reduced volatility and prices on commodity markets, a performance which nevertheless remains very good. Now, if we look at the rest of the income statement, EBIT is EUR 13.1 billion. The impairment losses and other operating income and expenses for the Hinkley Point C project in 2025 include two main important elements. Firstly, two effects that offset each other following negotiations with the British government. On the one hand, the GBP 3 per megawatt-hour price reduction in the contract for difference leads to a depreciation of EUR 1.8 billion on the Hinkley Point C project. On the other hand, the payment by Sizewell C of a know-how fee for an equivalent amount. These two amounts offset each other. The remainder of the impairment, i.e. EUR 1.8 billion, is essentially due to the 12-month delay in the commissioning of Unit One related to electromechanical work. Significant progress has been made on this assembly phase, with in particular a doubling of the pace of work during the last quarter of 2025, a pace which continues to progress at the beginning of 2026. The following chart details the financial result. It stands at less than EUR 1.6 billion and is composed of three blocks. First, the cost of financial debt was less than EUR 3.4 billion. It decreases by EUR 0.7 billion, thanks to active debt management. During the year, in a context of falling interest rates, we issued EUR 9.4 billion in bonds and repaid bank loans early. As an illustration, the average coupon of the group's bonds fell from 3.85% at the end of 2024 to 3.4% at the end of 2025. Secondly, the charge of discounting for EUR -3.4 billion, it increases relatively little, thanks to the 10 basis point increase in the discount rate, as in 2024. Thirdly, other financial income and expenses amount to EUR 5.2 billion. The performance of the dedicated asset portfolio was 6.8% in 2025, compared to a high performance of 10.8% the previous year in a context of less favorable equity markets. Nevertheless, the nuclear provision coverage rate continues to progress and reaches 108.8% on December 31, 2025, an increase of more than 4%. The current financial result stands at EUR -3.3 billion, an improvement of EUR 0.4 billion compared to 2024. It is adjusted for non-recurring items, including in particular, the change in fair value of the asset portfolio dedicated to the following slide. You have the details of the net income attributable to the group, which amounted to EUR 8.4 billion, compared to EUR 11.4 billion last year. In addition to the financial result I have just detailed, the tax expense is down by EUR 1.2 billion in connection with a decrease in the pre-tax result. However, this year it includes the exceptional contribution in France for EUR 567 million. The effective tax rate is therefore 31.6%. The share of net income from joint ventures and associated companies contributes to net income by EUR 0.7 billion. Excluding non-recurring items, the group's current net income amounts to EUR 9.7 billion-EUR 9.6 billion. Now, if we move on to the main elements of cash flow, we start with net investments. They amounted to EUR 24 billion, an increase of EUR 1.6 billion, or more precisely EUR 2.5 billion, if we take into account the acquisition of the nuclear activities of Arabelle Solutions and the 5% of the capital of Framatome, two operations which were carried out in 2024 for EUR 900 million. This increase is mainly linked to maintenance and life extension work on our nuclear reactors in France. Prepares for the future development of new nuclear reactors, primarily HPC in the U.K. and the EPR2 program, and for the development and strengthening of networks. 94% of these investments are aligned with the group's net zero emissions objective. After this detail on investments, I will now comment on the evolution of the other elements of cash flow and net financial debt. As you can see, the operating cash flow on this slide is at a very good level of EUR 9.6 billion. This is explained firstly, by a strong cash EBITDA, slightly higher than the EBITDA of EUR 30.3 billion, a favorable change in working capital requirements of EUR 2.1 billion. Indeed, the impact of falling prices leads to a decrease in customer receivables of EUR 3.5 billion. On the other hand, we have the deficit in compensation of charges, the CSPE mechanism of which degrades the working capital requirement by EUR 1.4 billion. This also includes the payment by Sizewell C of GBP 1.6 billion as a know-how fee. As we just saw, net investments amount to EUR 24 billion. Looking at the rest of this bridge, we see asset sales of EUR 0.9 billion, which include the sale of our gas storage assets in Italy. There, the company Stockaggio, which was part of the Edison Group, had net financial expenses paid of EUR 1.9 billion and tax of EUR 2.7 billion. Finally, dividends and hybrid operations for EUR 3 billion include, in particular, the distribution of share premiums to the state for EUR 2 billion. The group's cash flow was thus positive at EUR 2.9 billion in 2025 and made it possible to reduce net financial debt to EUR 51.5 billion, a decrease of EUR 2.9 billion compared to the end of 2024. Now, if we look ahead, we anticipate that EBITDA will remain at a solid level in 2026, although slightly lower than in 2025, in a context of falling prices. Furthermore, we confirm our objectives for 2027. A net debt to EBITDA ratio of less than or equal to 2.5 x, and an adjusted economic debt to adjusted EBITDA ratio of less than or equal to 4 times. Thank you, and I'll give the floor back to Bernard. Thank you, Claude, and thank you, and congratulations to all colleagues for generating cash flow, allowed to continue reducing the Group's debt. So if I move on to perspectives and priorities first, safety, security, health, quality, lead time. I don't think that will surprise you. It's about continuing in that vein. Then, of course, our customers provide them with competitive, sovereign, and low-carbon electricity, and as a topic to accelerate our progress, the electrification of uses. Therefore, to achieve this, we will continue developing our commercial policy and then to support industrial clients in the electrification of processes. ArcelorMittal announced a few days ago the construction of an electric furnace in Dunkirk. Well, we are very happy to be able to accompany them. It is barely 18 years that has been signed and which illustrates the commitment we have to electrify, and we wish to renew this type of initiative with industrial customers as well. This is the development of data centers. So we offer land with accelerated network connection, and we want to continue in this direction and work on the speed at which we can offer these data centers. This is generally a determining factor for those who wish to have one. We will also continue to offer support for the transition to electric mobility, both light and heavy mobility, where there is a lot we can do. I have in mind an offer of electric charging stations, plus smart charging, which allows a total electricity cost lower than the cost of diesel over the cycle. Therefore, mobility, and then, of course, in the building sector, the accelerated deployment of heat pumps. I noted that the government mentioned during PPE3 the intention to increase to 300,000 heat pumps per year from 2026 onwards, and our colleagues are working on it. We need to see how we can contribute to reaching 1,000,000 per year in the years beyond 2026. So, competitive, sovereign, low-carbon electricity. Electrification, second part for us is about strengthening our strengths, starting with the nuclear fleet. So our colleagues are invited to mobilize, to have, despite the life extension and maintenance programs, an output capacity of more than 400 TWh per year, which they already did in 2025. You had more than 410 TWh available for that. The start program will continue. This is season two. We're going to work some more. The increase in reduced power, the power of nuclear reactors, and our colleagues provided us with an estimate that dates back a couple of months. Based on current systems, is 353,170 TWh in 2026, and 27,345,375 TWh in 2028. Of course, we will work towards accelerated electrification, working on how we can improve our modulation systems. I hope our colleagues will be able to exceed these objectives. In terms of water resources, it involves implementing the agreement in principle and reviving investments. We have planned in our plan, our PMT, EUR 4.5 billion of investment in hydraulics to absorb a-- Sometimes a technical debt exists, requiring the upgrading of certain structures and the strengthening of our wastewater treatment plants. I quoted 4 gigawatts, roughly 3.5 for the pumped storage hydroelectric plants, and 500 megawatts for strengthening our current capacities. That also deserves to be pointed out. We have the objectives of startup, commissioning, and power plant in the-- Yes, with the Larivot bioenergy plant in French Guiana, and finally at the end of the year, and then there's Ricanto in Corsica. Right now, the engines that are arriving are very impressive. There, the startup in Corsica is planned for late 2027, early 2028. The development of renewable energies. We have a strategy for maintaining skills and deploying a business model that is consistent and positive cash flow, which is progressing well. This topic involves adjusting the business model and achieving positive cash flow. We are counting on all our colleagues in renewable energy and on their commitment to this. This strategy also includes the following priorities: Of course, industrial control of the projects. The following were mentioned. The electromechanical work at Hinkley Point C is ramping up, but it is necessary to continue ramping up. The final investment decision for the EPR2 program is a major topic for us. Submitting the application to the European Commission. That my colleagues work to be ready so that at the end of the year, the EDF board of directors can make the final investment decision on Dep-Reduc, and that we also put on the table an option for not only the, the 6 EPRs, 2 of which are the subject of the final investment decision, but an option for 8 EPRs, 2 additional ones. So, of course, we are paying close attention to the financial trajectory. So we will continue to invest and invest even more, and we will be selective, especially with certain investments, particularly internationally. We are engaged in asset rotation. We specifically mentioned North America for renewables. And then we need efficiency, decision-making close to the ground, speed, and we are continuing our program to save on overhead costs. This is it. Compared to 2024, to be able, by 2030, to reduce by EUR 1 billion per year. So we are already at the beginning of this trajectory. We will succeed, thanks to the commitment of my colleagues, whom I thank for this. Of course, we need skills, which are a top priority for us. I was referring to the recruitment for 2024. We will continue to recruit in 2025. We are planning, in particular, 13,500 permanent contracts, and one issue for us is career development, because we are recruiting a lot, and in particular, the development of technical career paths for women who are a tremendous asset for the EDF Group. And I also thank them for their commitment. So the teams are committed, are mobilized. We have put in place to adjust the values and the way of doing things: safety and security, professionalism, performance, openness, and commitment. And we are counting on their commitment, so the employees are very committed. We have an engagement index of 75%. Now, we will continue to work on this commitment to clearly define the strategy with all our colleagues, and I thank all the group leaders who support this approach. And this year, we are celebrating EDF's eightieth anniversary and 1946's forty-sixth anniversary. Our predecessors rebuilt France by guaranteeing access to electricity throughout the country. For him. Let us, our colleagues, be the builders of the next for twenty years, so that we can provide the French people, today and for future generations, with competitive, sovereign, and low-carbon electricity. So a tremendous challenge for all of us, and we are proud to have been EDF for 80 years and committed for the decades to come. Thanks. We'll move on to the questions, perhaps. Pardon? Just before that, I'd like to take this opportunity to tell those who are remote that you can ask questions on the platform. We install them afterwards. With Bonjour Elsa Baron, Figaro, Economy. I have a series of questions, the first of which is about modulation. I imagine that making a rule turnover of terawatt-hours produced 33, it's not going to work the modulation trick on us. So if we already have a figure, if you can manage it? Another question: What volume of demand and what price level are you aiming for? To ensure the long-term viability of your business model, do you need demand-side investments? Have you renegotiated the CFD? HPC, you answer all my questions, and I have a small clarification about Enedis. You announced EUR 26 billion for the network between 2025 and 2030. I didn't take good notes. When you say that for the development of renewable energy, maintaining skills with a consolidating business model can explain this point. Thank you so much. Modulation, effectively. So we put it on the table online, and then indeed, you have equipment wear and tear. Our engineers are always very cautious. They notice the wear and tear, but in this case, it's necessary. We need to anticipate it. That's the job. Then there is... There are orders of magnitude that are there. It's a technical working basis, and we are already working with stakeholders. What can be done to improve the situation? Of course, electrification is the first answer, but flexibility is also an element of the answer that is invoked, and we also worked on how we can improve our optimizations. It's a technical detail, but I'm sure we'll have the opportunity to come back to you about it. Why this CFD exchange? Finally, GBP 1.6 billion immediately in CFDs in I don't know how many years, that speaks to me, the. So it's about bringing in cash, and it's a way of recognizing the effort that has been made. I think so. A good balance has been found. And I, for one, am grateful to my British colleagues for having succeeded in obtaining this agreement. So Enedis, indeed, we can confirm the figures you mentioned, the AN and the question of prices. After that, it's always difficult to predict. We have scenarios like that which we operate in. We are relatively well covered. This year, we were told there was an EBIT in Lille, to use my expression. We are already partially covered for next year, but perhaps you'd like to say a few words? Yes, definitely. Regarding prices, what we are working on a lot is the electrification of uses. You have understood this well, precisely to be able to both produce more in order to sell more. I think that is the group's priority today, and that's why Bernard displayed it earlier, saying, "Well, the electrification of uses will allow us. We export, we export 90 TWh, but here, too, we will be able to produce more with the nuclear fleet." So I think everyone is focused on this goal, the government and then companies like EDF. This is a question about the renewable energy model. Yes, sorry, the renewable energy model. Yes, that's actually the case. We are developers, we bring this technical aspect, et cetera. And the question is: do we need to be developers? And what about those who finance the model? In fact, we see that by being a developer and taking a ticket, we can deconsolidate and enhance the value of our contribution. I have in mind the visit that my colleagues took me on to the United Arab Emirates, where there is a 1.5-1.6 MW solar farm, 20 square kilometers, 1.5 GW. Yes, I have 1,500 MW. Pardon? I can visualize in my mind the farm covering 20 square kilometers, and it's impressive. Indeed, the shareholding is slightly above 5%. This is the kind of success that can be achieved. Not necessarily everywhere, but it's about positioning ourselves, bringing in partners, financiers, and our colleagues who are succeeding. That's the model we're moving towards, which allows our colleagues. We've invested more than EUR 15 billion with Edison in renewables to now have a cash return and move to positive cash flow while continuing to develop our activities. You said it, Juliette. Yes, hello. Thank you for the presentation. Juliette Raynal for The Tribune. I wanted to come back to HPC and within your timeframe, which has been shifted to 2030. I wanted to understand why. In fact, the part about the electromechanical installation, understanding what we understand, is that it is accelerating there, but that is what had fallen behind in 2025. I understand that there is a topic on this, particularly among the many service providers who work on it. On this construction site, many are independent and switch between companies and service providers, and that would raise organizational questions. I wanted to know if this is indeed a subject that caused a delay or if there are other factors on the question of modulation. Well, there are several experts who point out that indeed, as you have shown, modulation represents a cost for EDF, but it could also represent a gain at certain times insofar as there are many volumes of electricity from EDF that are not sold on the spot market, but in the future, and that at the time when the reactors modulate downwards. But in fact, EDF still has to supply its customers who buy back its electricity on the market when prices are low, and so this difference could represent perhaps hundreds of millions of euros in profit margin. I wanted to know if this was the analysis. Could you confirm it? And you also made projections of what the modulation might cost in terms of maintenance, et cetera. Have you calculated what it has already cost you? I had another question about Flamanville 3. I believe you said 2 TWh of output in 2025. Are there any projections yet regarding the expected closing price? Flamanville 3 in 2020, 2026? And I also had a question, a final micro on offshore wind power. Where do you stand on the issue of the price of 45 but 45 EUR per MWh on the park that you won, this price, which seems too low today? And are you in discussions with TotalEnergies regarding for the expansion of this park? Thanks. Thanks. So several questions about HPC. There can be different interpretations. For me, it's fundamentally a matter of logistics and whether they're ordered thousands of kilometers away, they arrive in the order they want to arrive. Next, you have to put all of these pipes, valves, et cetera, in the right place. And so this is the squaring of the lines of logistics. Who? It also allows delegation when there is a small difference, so that the people on the ground can decide quickly. That's what it's about, and these are lessons we learn for the future. So we know about the equipment, the walking, we know about the equipment, we know how to do it. The civil engineering work is progressing, and it's really about the assembly of these pipes and the logistics... Right now, we are already integrating the logistical aspects to make it an additional hassle and then specifying the order of arrival, organizing relay spaces, so a logistical subject. That's essentially where it is. Next, you mentioned the terawatt-hour modulation. It is true that there is a part of modulation which allows for optimization, and then a part of modulation which is suffered due to a lack of workload planning. Now I think that we must also integrate the fact that modulating costs and that we must also integrate into our economic optimization approaches, and that we must also see if other activities can modulate as well. That's the whole point of this discussion, and I think that once the diagnosis is made, there is a factor for progress. Have we put a price tag on all of this? I think we need to address this because if I tell you that it costs EUR 30 million more to create turbines in a year, well, a lot of what is needed is to have a full system cost approach, and that is the approach that RTL invited us to take. We will obviously cooperate with them in this regard for Flamanville 3. Well, what is planned is the C1, September 26th. We have no specific output announcements for Flamanville. Right now, they are 100% there for their one and only. So this morning, we have 53 GW installed. Those who produce and they participate in the together offshore wind power, that's where I'm thinking. That's what you were talking about. Indeed, we proposed one. Our teams had envisioned being able to share a number of things with them. Here, too, the situation is a little different, and we have proposed one to adjust, because the prices, because circumstances have changed a lot in the meantime. The model at the time consisted of setting prices eight years in advance, and the entire industry was convinced that costs would fall. Except that COVID happened, the war in Ukraine, the significant increase in costs, a scarcity of ships, and so the world is different, and it is a demand to see how we can. We can reject it. That's where we are now. Am I forgetting? Question. I have a question for Euractiv. I have two questions. The first, according to the European Commission's plans, is to ban Russian nuclear imports and services. What is EDF's position? Do you want the Commission to act as quickly as possible, or do you need more time? What are the conditions for EDF to activate this law? The second question is: Have you seen the electricity prices in Spain? You also published this study on modulation and the impact of renewables on the profitability of French reactors. I wanted to know what your plan is to ensure that the next ones... 6-14 French reactors could be profitable, even if the renewables have a much lower price and are in a major context. European Interconnections, thank you very much. In terms of relations with Russia, we actually respect each other. Generally speaking, we have a policy of diversifying our supplies, so some come from there and then. Well, we respect these policies, and we follow the guidelines given on the new reactors. Indeed, they will intervene, so we increase the lifespan of current reactors, but they will, they will still get old and, and our ancestors, in the end, they were building six reactors a year. So when you start getting older, it's going to go fast. We have more than 55 GW installed, but if EPR2 represents 2 GW, so it's not huge, but it goes up to 25. And if you add 8 more, then these reactors are designed to modulate. They will have lower marginal modulation costs than the current fleet, thanks to the efficiency of the neutronics part and the fuels on these reactors. And there you have it. That's the system. Next, in order to appreciate the merits of each individual, of each generation, one must not, in my opinion, be... The old model of identifying just a marginal generation no longer really works. We need to look at the whole network, the whole cost of the system, and assess the merit in relation to its contribution in a global approach to system costs. I am confident that our reactors will have their place, especially since, with the construction of a series effect, it was announced that for the first second pair, a cost reduction of 15% was expected. We plan to do this again for the third pair, and then we will continue until we reach a negative cost. If we continue, but we have these effects of scale, that's actually how our ancestors built the modulation park. So we are confident. Afterwards, there will be interactions in Europe. We benefit from this because we currently export more than 92 TWh, and we say we must remain attentive to the stability of the systems, because we have observed that some systems are less stable than others. As you have seen, there are blackouts, and we must ensure that these instabilities do not spread. Therefore, a logic of protection must also be integrated. Hello, Adrien Pécout the newspaper Le Monde. Thank you for the presentation. I will try to be concise with only three questions... The first is that 2024 is an exceptional year with EUR 2 billion in dividends. In 2025, unless I am mistaken, EUR 1 billion is planned. Does this mean that, in your opinion, this will be the normal rhythm of dividend payment in the coming years? Second question, you mentioned a climate change adaptation plan worth around EUR 9 billion. Can you provide details on the breakdown and schedule? Third question, has the recent publication of the three led you to refine the timetable and objectives for the final investment decision of the first two EPS and for the option, let's say, or at least the Cantos eight study following? Thanks. Dividends are decided solely by the shareholder. As shareholders of our subsidiaries, we are happy to raise dividends to ensure profitability of invested capital. That's in the hand of the stone. It's true that in companies, whatever the... Secondly, the EUR 9 billion figure is really a retrospective study. What will the flow rate of the rivers be? What will the temperature be? How can we protect ourselves, and in particular our cold sources? You may have seen that we stopped Gravelines with Meduse, for example. Where do we stop pumping from the Garonne at Golfech when the water from 28, we could cool it down without any problem. And so we put in place systems and what we can do to cool the water to guarantee that we will put it back. So it's this whole very comprehensive approach to resilience dams. We also have issues related to water management. This is a program that truly deserves a presentation as such, a package that we have. It could rise up to them, and then we'll have to stall. We haven't settled on a fixed rhythm yet. We have already launched a number of initiatives. I suggested that my colleagues be proactive on all matters relating to jellyfish, fish, et cetera, from cold sources in certain rivers, and we will continue in that direction. There. As for Pump 3, for us, it is a confirmation of the direction we have, and therefore, our action is to continue to accelerate, which is the main theme of our strategic commitment. It's always, always by the end of the year. Thanks. Hello. Thank you for this presentation, the message from Green Univers. I have a lot of very short questions, the maximum. The first concerns medium and long-term contracts. You present us with 12 CAPNs. Can we get an idea of the output this represents? If applicable, if you have achieved your objectives, which were set by the state, do you maintain one CAPNs policy for the future? Second question regarding gross renewable gigawatts put into service, do we have any idea what this represents in net terms for investments in hydro? Can we get an idea of the ventilation system for what you have planned? Asset rotation, have you made any plans for the next few years, the next two years? I'm talking about rotation. Let's say at the level of the one you planned for North America, renewable in North America and on where 8 or 4. To add to my colleague's question from La Tribune, do your discussions with the government, or at least with the bodies that manage prices, the prices of the megawatt-hour, could they be of a nature to bring Maple Power back into the project? So thanks. So in that respect, in the medium term, it's, it's about the market and capital. That's what we call the long term. So there are 18 long-term contracts, 13 of which are contracts of allocation of nuclear output cases, representing 16 TWh. It turns out that as the market is favorable, customers are also considering these issues of planning their food supply for three, four, five years to benefit from the market effect. Often, we see that they have a combined policy. That's why we aggregate them and show you 47 terawatt-hours. We will continue to support electrification. I mentioned earlier, for example, Exeltium, that's terawatt-hours per year. That's what we've added until the end of 2036, and we certainly have objectives, but beyond that, we want to support our customers, build their confidence, enable them to electrify, and our criterion is the speed at which all this can happen on the 3 GW gross installed. I don't know if Béatrice Bigois wants to give us a little more detail. In fact, we follow the raw data because that's what's important. It's the realization of the parks, and therefore, what makes sense is in its raw state. On the other hand, in terms of output, we look at net output, and what we see is that, for example, at EDF Power Solutions, last year, we produced a total of about 50 TWh net. This is a distribution of our revenue. Next, I was asked about investment planning in the... So it already exists. Reinforcement of existing structures. So EDF did a good job, but when you own a book, being sure you'll be able to use it in two years, maintenance isn't necessarily the priority. The huge investment, so that's something important. Next, without delay, let's start preparing the supplies. A long delay for Montereau. I think we can do a step and-... And then it will also depend on how the transfer to an authorization regime will be valued on contracts that are planned for up to 70 years. So it's the combination of all these factors that will allow us to adjust over the coming years. We prefer to plan it to ensure that we have the resources in place and that our colleagues in hydraulics can do it. For everything that requires the good condition of dams, the optimization that can be done because certain structures can be built and then the steps launched without delay, which are a formidable tool for stabilizing systems. And so, as I was saying earlier, I have in mind 0.5 GW of reinforcement of the structures and gigawatts of pumped storage, and we are working on pumped storage with a horizon of 2030 for the steps first gigawatts. On asset rotation. Asset rotation. Okay, so we've been talking about the North American part, which is these aren't really major issues. They're more in the normal course of projects, but I don't have any but the holders. This is normal, especially internationally. So the teams will establish their roadmap. It's pretty much up to them. And finally, there was on... We'll see. Ah, yes, those famous Maple Power who were our partner, who expressed their wish to leave the game. Well, we'll see. We are always open to our partners, and we will continue to work. If there is another question from the room. Yes, hello. Amelie Laurin, Les Echos on HPC. In your activity report, you mention a net impairment of EUR 3.5 billion to find out how we arrive at EUR 2.5 billion, on which you communicate an amount. Furthermore, you also indicate that an additional delay of 12 months could result in an additional cost of EUR 1 billion. I would like to know the current level of knowledge regarding commissioning in 2030 and what investment plan is planned for HPC and R2 this year versus 2025? If you can give us the amount for 2025, and... finally, regarding power solutions, you mentioned EUR 359 million related to asset financing. Decide which assets are involved. Thanks. Of course. Maybe on the side. After that, I'll leave you to it. Let's keep an eye on the financial side. I follow it weekly at 6:00 P.M. on Friday, the progress rate. They are currently climbing the ladder. We can be more precise once they have reached their target level. For now, they are still doubling up with the aim of regularly doubling their performance, and so that seems reasonable to us. As for the date, we prefer to display advanced right now. There are also opportunities in commissioning to move faster. There are currently solutions for commissioning. I was waiting for the boiler to start before launching the turbine commissioning phases, and our predecessors had a method. They used a mobile boiler, which saved time on commissioning. So it's about both integrating the fact that the startup was slower, but also introducing new techniques, reintroducing techniques. In addition, a mobile boiler can be used for HPC, R2, et cetera. So it's about balance, and we believe today that the best judgment is perhaps that we can be more certain of. Let me explain to you first about HPC. The amount of 2.5 is the impact on the net result. Once taxes and minority shareholdings have been deducted, that's why you have two numbers: an impact on the EBITs, which is 3.5, the impact on net income. It is lower on HPC investment CapEx in 2026, of the same order of magnitude as in 2025. However, on PR2, we have a strong portion, so we need to look. So you look at the sum of the two, the sum of the new nuclear in the slide, which was slide 20. We have on the new nuclear, the EUR 1 billion this year. That's a large part. That's a large majority. That's HPC, a small PR2, and we're going to have a little over EUR 5 billion, and we're going to see a strong increase in PR2 this year. We're continuing to... The preparatory work on Penly and also the construction of the equipment that will equip the EPR and NUWARD solution. Regarding your question, there is nothing significant. It is a collection of small objects that leads to the figure you mentioned regarding depreciation. Regarding this year's EPRs, we had given a figure to the council on... Well, listen, I'll get back to you. I'll check. It's almost a little less than EUR 3 billion, EUR 1.7 billion. You have to see, that's what it is. We know that the cost of the project is linked to its speed, so we don't have strictly budgetary management. We can go faster. We go faster because we know we are winning on schedule, and that's the order of magnitude. Hello, and thank you to France 24. So first of all-... Why a wider range of nuclear output in 2028 with a potentially lower target, 345 TWh in 2028? Next, I would like to have your opinion on the scenario of a decrease in the price of continuous low voltage electricity. Now, are you concerned about the profitability and financing of the project? All in all, good news for competitiveness and the potential for increased electricity demand. Finally, we are not going to discuss the NUWARD project in broad strokes, at least not in today's presentation, because it's still a major financial issue. Where do we stand, and what place is given to this project today? So, what our engineers, that the further back in time we go, the more we use wide range is also in the expanded memory range. They also noted one, the high value. Okay, you understand our state of mind, right? For now, with the data, they were doing it in the current system, but well, we're going to try to go further on NUWARD. Yes, I could have. I should have even mentioned it. Indeed, my predecessor made a very, very good decision, which is to refocus NUWARD on technologies that are under control. And so our colleagues are working on displaying a design that is also being implemented. There are applications that exist using the heat from data centers in countries that are returning to nuclear power, and so we are moving forward with this project. We also obtained recognition for the project from the European Commission. We are also a candidate in France, and we are opening up the capital to partners who want to contribute to NUWARD. And for me, NUWARD is part of our strategy, so we will obviously make points with the board. This is an advantage in our offering. It's an advantage, a product that is standardized. For example, they benefit from the same fuel architectures as our nuclear fleets, which means that our fuel plants know how to make NUWARD fuels. We can even mock, et cetera. There are quite a few advantages available, and that's part of the range. On the other hand, we would do it in an approach with partners to make a real, a true European product. We will have the opportunity to communicate about this in the near future. The prices and profitability of... To say that there is, there is one element which is still important, it is the loan subsidized by the state, and that's why we sought approval from the European Commission and also benefit from a CfD. So you have 2, 2 elements that stabilize the model, preventing it from being lost, and 2 fundamental elements. So today, we are following the progress of European discussions while at the same time working with the state on the... The entire discussion revolves around the loan, which represents more than 50% of the project cost. We are happy to. The competitiveness of the nuclear power plant is due to the fact that our predecessors launched a nuclear program. It's an investment. When you have an operator, you have them for between 80 years or even more. So it's about enabling future generations to benefit from this activity. That's what it's about. For Nicolas from Politico, a question about the... There is a question about the green fuel project being carried out by Framatome in Lingen. Do you know if there's any progress? Do you have a date for obtaining the license that can deliver the regional projects of Lower Saxony? Thanks. First, we are grateful to the state for having submitted the request to the state services in November of last year, and it is within the framework of an existing dialogue to follow. And that's how it works with fuels, and customers in Central Europe have asked us to supply them. We were allowed to make a copy. It was signed before the events in Ukraine. A license, as I say, is that we have, and the customers are demanding it, and we have two sites to do it. Lingen, because it is practically made for doing it, and Romans-sur-Isère have invested. So we're investing. We'll see. Sizewell Financial Times Day. I had... That's something we hear from the unions from time to time as well. Can you tell us a little more about how you view this and how much of a potential problem it really is? Secondly, regarding electrification, you've given quite a few examples of what you're working on, but more broadly, are you optimistic about making rapid progress on this? Because it's a rather ambitious project at a time when the budget is being built in France, elections are coming up, et cetera. How do you view this in the coming years? Thanks. Network stability management is handled by our colleagues at RTE, who invest in excellent resources for that. So the French network system is very robust, very good quality, and it is resilient. However, indeed, when there is... In Spain, it's more about fluctuations in power.... We saw them arrive in France, and so we have procedures in place, and the one from Golfech collided, so it, it protected itself and restarted to supply Spain. We need to integrate it, which means there are full costs. On one hand, the laws of physics, it must be remembered from time to time, and then adjustment. And that is the role of our colleagues at RTE, whom I commend because they do an exceptional job on electrification. On the. My optimism, my optimism is that I think we need to shift gears. The. When you really want something, you can achieve it. Look, we've reached an agreement with Safran, which will build a new carbon brake factory in France. An agreement can be reached with Aluminium Dunkerque terawatt-hour. An agreement has been reached with ArcelorMittal, so now it's a matter of trust. We really need to work together. That's great for the teams working on the processes with the manufacturers. The chemical industries were asked to work on eight specific cases and serve as a model. It is this dynamic, and now our idea is not to say, "I want to make a plan." Electricity is I electrify, and our colleagues are also incentivized to electrify. I think there will sometimes be longer things, positive things, but the will is there. We also clearly felt the message of the importance of electrification at the time of the broadcast of PPE3. I think all the players are mobilized, and in any case, you can count on EDF to go all out on electrification. Thanks, Béatrice. We're counting on you and your teams, particularly with data centers. And the data centers, you know, data centers, I have in mind a data center near Paris. We went there. It's half a current nuclear reactor, so it goes very fast. Then when it comes... Aurélie, yes. Hello, Aurélie. Barbaux, L' Usine Nouvelle Just to get back to modulation, talking about an evaluation of the complete cost of the system is expensive. I didn't understand if it was RTE who calculated it. Can you give us a date or at least a target date for the publication of this full cost, knowing that you haven't finished on your end, if I understand correctly, calculating what it costs? I had another small question about battery installation objectives, to know if it was France, Europe, as it was before, and so mainly that's what it's about, the full cost. We contribute, so we made our figures available ourselves. We need to extend our estimates. After that, it's a process. Then we know what we're doing. It's an exact science, et cetera, but we can already identify them. This work continued. I'll give you the date, and it's indeed in these scenarios to approach it like that. On the other hand, we contribute to it, but we still see the elements we are working on. Already on these subjects, on batteries, it's pretty much everywhere. There are countries where we have a greater presence than others. There is a higher demand for Dorian. For these batteries, we are on this. I have questions online, notably from AFP, about the... Do you plan to revise your target of 150 TWh of new consumption by 2035? The first topic is electrification. Can you give us an update on the potential for power increases for existing reactors, and are you able to tell us the final nominal power chosen for Flamanville 3, I imagine? That already includes electrification, increased power of existing reactors, and Flamanville 3, Ambitions 2035, which has displayed its 150 TWh. The observation we made was that we were not on track for 150 TWh. We approached the question by saying we are questioning the ambition and the objective, but what are we doing to accelerate, to change gears? That's how we approach it. That was the other question about electrification. Regarding the potential for increasing the power of existing reactors, where do we stand? We are speaking under the expert eye of Étienne Dutheil, who is here. If you take the 900 MW of a turbine, it depends on who you're talking to. You talk to the turbine seller, he tells you it's a 45 MW reactor. If you talk to the user, they are always cautious, they tell you 35. Last time I was in a control room, it was 42. So that gives you an indication. 42 MWh for the reactor, it depends on the water, the temperature, et cetera. That's for the 900s, but there's also a lot of work that can be done on the methods. Okay, 40-40 MW reactors by turbine. In addition, per reactor. So you multiply, you take 13, you were 40 by 13, and that gives you an indication of the installed power. That's half a reactor, to put it simply. There are the 13, where teams can also work on the reactor part, on the neutronics part. That's related to authority, and there are also opportunities in the engine room, and they'll come from behind. There are teams working on these topics and who will deliver in time. There is a capacity to effectively increase the power of the reactors, which we practically have. The increase by the 900 turbines is classic. It had already been done for some reactors at EDF. It has been done in the world. After that, EDF had stopped somewhat, because if you have a prospect of shutting down 12 reactors, you invest in 12 reactors, and that allows you to turn the page. In any case, I had colleagues waiting, and we had launched this program. Perhaps Steven the Great, the great specialist, will enlighten us. This has already been done in the past on 9 900 megawatt reactors, and so the power gain is that indicated by Bernard Fontana, that is to say, around 40 megawatts per reactor by acting on the efficiency of the turbine simply. There is a potential on the 13 1,100 megawatt reactors, which is around 82 megawatts per reactor, with overseas increases and also an optimization which concerns 1 reactor. We launched the optimization. We relaunched the optimization on the 900 secondary megawatts. The reactor's first operation is scheduled for 2027, and this had already been done on 9 reactors. Some are not affected because they have a different turbine model, which does not have the same optimization potential, already optimized, let's say. Thank you, É tienne. There was a question on Flamanville 3: What is the nominal power output chosen for the Flamanville EPR 3? Is the power thermal, electric? Is it also because sometimes the figures may be different, but not contradictory? We need to finish the tests because the power of a reactor depends on two parameters, starting with the temperature of the cold source. That's why Bernard said earlier that it varies between 35 and 45, et cetera. It also depends on the settings that have been made, what is called the water station, that is to say, Arabelle or in the engine room. And the test campaign and a certain amount of time in operating ranges, where we will have tested different cold temperatures that we will really know. What is the nominal power of Flamanville 3? Really, a few megawatts today. Flamanville 3 produces megawatts on the grid, but this is something that needs to be refined. That depends a lot on the quality of the settings. It takes time to fully adjust everything, especially on a new model control unit. A question to be taken at a distance from the nerves of the press. PPE3 refers to the recovery of heat from nuclear reactors. Are you conducting any work on this subject, which was raised at the beginning of the park's development? There are reactors. There are greenhouses next to a number of reactors, so it exists. This topic is particularly relevant with NUWARD, which we mentioned earlier. NUWARD also positions itself as a heat supplier. He is also a candidate for the city of Helsinki, and that, in a way, improves the yield. Then there are some topics that are open. I don't know if we have anything to add, Etienne. Yes, it's a subject that we reopened today. It's happening with the fatal heat. We supply greenhouses with the water coming out of the condenser. We can go further by drawing off part of the steam, which would therefore no longer be used entirely in the turbine, but only partially, to then produce process steam for district heating for industrial companies. This is a possibility that is used elsewhere, mainly in Eastern Europe, and which has been studied for the French nuclear fleet, but never implemented, and today we are reconsidering it. This is something we could do in the future. The steam produced may not concentrate over longer distances, but, but... 11:30, 11:35, I suggest we stop here, and I know there are still questions online. We will try to answer it by mid-afternoon at 12:00 P.M. What about the press office? Everyone, thank you, Bernard. Thank you. Have a good day!