Climate Week NYC 2021: Interview With Catherine MacGregor, CEO Of ENGIE This is value neutral over time as D&A is integrated in the regulated revenue. The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? No, absolutely. Simply log into Settings & Account and select "Cancel" on the right-hand side. And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. In Networks, lower RAB remuneration rates in France should be offset by the reversal of 2020 warm temperatures as well as continued growth in Latin America. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Obviously, you did signal that youd be ramping up CapEx. This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. Elle est ingnieur, diplme de l' cole centrale Paris, dont elle sort en 1995. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. We will make sure that we get the right price. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. We have some core competencies. These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices. click here. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. Catherine MacGregor | 2021 Most Powerful Women International | Fortune Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. cookies En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. And as in the past, we will be very mindful of timing. Net recurring income group share was in line with guidance but at the bottom end of the range. The Board of Directors announces the appointment of Catherine MacGregor 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. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We have not seen prices like this in many years. And then the second one, its for Catherine. And that will be something that we will be describing a bit more in details in May. Un article de Wikipdia, l'encyclopdie libre. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. This button displays the currently selected search type. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Ill start maybe with, again, the second one on renewables. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. H2, That will put pressure on Ms MacGregor to make her mark . Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. fusion, Now its a little bit difficult for me to really be critical about the past. But that brings me to my question actually. Catherine MacGregor - Forbes As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. On the other hand, we, obviously, want stability in a power system. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Stay informed and spot emerging risks and opportunities with independent global reporting, expert We will run processes. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. January 7, 2021. We support credit card, debit card and PayPal payments. Are you working on a new organizational format? MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. You can store it. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. #solvaylife #futureemployees #career #mockinterviews, Bringing some sun and fun to the Solvay Alpharetta site in February, employees and friends enjoyed an Hawaiian themed luau complete with ukulele music from Jason Chung and Ryan Carey. It mainly affects our renewables and supply activities. is its Ocean Winds joint venture with EDPR. Find here the list of all the sessions presented by this speaker in order not to miss any of it. You mentioned that you would also phase out coal in district heating. Yes. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. You can update your choices at any time in your settings. We will now take the next question from Rob Pulleyn with Morgan Stanley. Depending on opportunities, it could be this asset or another one. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. And sorry, just a follow-up on the CapEx. French utility's new chief Catherine MacGregor to increase investment in renewables. In this uncertain environment, ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance and we have stayed on track! Good morning, everyone. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. Please disable your ad-blocker and refresh. . The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. currently to 4 GW p.a. Katherine MacGregor (born Dorlee Deane McGregor; January 12, 1925 - November 13, 2018) was an American actress, best known for her role as Harriet Oleson in Little House on the Prairie. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. Pay my electricity bill of next year. A quick word on the agenda for this morning. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. This has been a concern for the market. We use So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Judith? We use Its two and probably a little bit more early. Its been a period in which the sector was exceptionally strong. Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial So all of the work that we started last year and that we are doing as part of this consultation is to bring these activities into a coherent entity, and this is really happening now with a commonality in terms of mtier, activity type, expertise, purpose and also industrial project. But on defining the structure, does that mean we have a disposal in Q3, Q4? France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.. Engie said in a statement it had appointed Franco-American oil services firm TechnipFMC executive Catherine MacGregor as new CEO, effective Jan. 1, 2021. Il serait pertinent de se concentrer sur l'aprs nuclaire, And yes, let me start by saying also welcome and wishing you success in the new role. And thats really the key part of what we do. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. We continue to develop these activities, including through an acquisition of the worlds largest district cooling scheme in Dubai, allowing us to increase our DHC net installed capacity by 9%. 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. Sign up for more in-depth articles and insights. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, The key here is really to give that business its own industrial project, its own identity. We think its important to have a system play on renewables. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. Engie appoints oil services executive to execute new renewables strategy Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. CEO - Engie. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ She occupied a number of roles within [] Elle travaille pendant 23 ans chez Schlumberger. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Ladies and gentlemen, this concludes this conference call. 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. Therefore, we do continue that we do think that gas will continue to play a very key role. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. Curious as to what my Linkedin connections think. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Moving to Networks, which were resilient despite the pandemic. I think thats clearly something the market will be expecting there. Live from New York and. The issue of having mtiers and activities that are so different from each other and I think weve talked a little bit about the multi-technical services, as an example, that require a management focus, a capital allocation policy, a system and attention to every cent that you have to spend, which is not necessarily something that is ENGIE DNA. Before I share my view on 2021, here are our 2020 financial highlights. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. And if so, what quantity? ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Thank you very much, Aarti, and good morning, everyone. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Let me now move to a detailed view per business line. But where should we be hoping that Supply COI gets back to either this year or perhaps over the medium term? #buckminsterfuller #trimtab #climatechange. We also benefited from higher contributions of GTT thanks to a strong past order intake. Elle y dirige des activits de forage au Congo, en Mer du Nord[3], aux tats-Unis, en Malaisie, au Royaume-Uni et en France[4]. The biggest, of course, remains Renewables. Our environment is changing. offers FT membership to read for free. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). We have also good fleet in Middle East and also Latin America. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. This was partially offset by capital gains, the main one being 1.7 billion due to the sale of the 29.9% shareholding in SUEZ. For the first part of the transactions, you mentioned the first buyout of or rather the buyout of a part of your minorities in Latin America. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Is it something that could be you realize value of and take advantage of low rates? Okay. The current total coupon of 100 million per year has been reduced by 28% since 2017. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, And does is your vision about full ownership versus minorities guiding your capital allocation going forward? Now that doesnt mean that we should not have discipline. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . You can read more about how we handle your information in our privacy policy. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. To remind, the company said in July that it intends to implement a new capital allocation strategy, focusing on two growth areas servicing the energy transition. Biography. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. Yes. Were very pleased. Do you have a vision about taking this proportion of minorities down for the group? Catherine MacGregor appointed new Engie CEO | Financial Times Son profil de spcialiste, sa connaissance des enjeux oprationnels et des mtiers de l'nergie, son exprience internationale sont autant d'atouts pour le groupe To read more about DN Media Group, One second, it will be over soon. So the 150 million I gave is correct. 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. And Networks, given that we do, we continue to invest here in France into the RAB, you will see a relative quick turnaround into contribution. 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. 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. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. If we look at the long term, weve got an average of 20% of minority as part of group net income with large minority stakes in Latam, for instance. And we will now take our next question from Vincent Ayral with JPMorgan. Its a geography refocus. And given that theyre contracted, to maybe accelerate other areas of the business? So thats one aspect of it. (Tech. modifier - modifier le code - modifier Wikidata. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. #mixedfeeling :D La situation en France depuis plus de 50 ans https://waves-energy.co/maps/. A cycle, of course, could be 3, 4, 5 years depending on the country. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. And my second question will be more accounting related regarding EVBox. The peer groups done very well. French Networks had limited COVID impact also mainly on distributed gas volumes. Yes. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. Thats really clear. So thats a positive. Please. And lets now, indeed, look at our priorities for sustainable long-term value creation. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. 2020 was really a milestone year for ENGIE in the U.S. with nearly 2 gigawatts of this new capacity commissioned across four states, taking our total installed renewable generation there to over 3 gigawatts. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. We have progressed on simplifying the group. Judith, you want to answer the second question? Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. cookies Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Within this guidance, we have included our current estimate of the potential impact. I mentioned earlier two things actually. And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. Vocs conseguem nos apoiar? hosting the engineering activities. 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. 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. They represent a key long-term growth engine for the group. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. Check if your And so every year, we will allocate capital to that, and thats 1.3 billion a year. If you have an ad-blocker enabled you may be blocked from proceeding. Parit homme-femme au sein des directions gnrales encore loin du We also posted higher financial costs. 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. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. On quick one on numbers, on guidance. Elle a t leve au Maroc[1]. https://noviocean.energy/documents/ So 25% of your business is in Thermal, and its an area that youre not particularly resting hugely behind if you look at the growth CapEx numbers. And then, of course, right after that, you have hydrogen. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. So these are some of the things that we are excited about when we think about our network assets, and we like it. 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. Pour les articles homonymes, voir MacGregor. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! In the summer of 2019, she chose to pursue her career in the energy industry by joining the Executive Committee of the TechnipFMC Group to lead its onshore and offshore engineering and construction activities, Technip Energies. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Now the other aspect, of course, is that we are obviously and we have not talked too much about it yet, but the hydrogen opportunity for us is very, very material. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas.
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