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Electricite de France SA (EDF.PA)

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Latest Key Developments (Source: Significant Developments)

Edison ready to open up capital were it to buy Eni retail business
Wednesday, 25 May 2016 07:00am EDT 

Marc Benayoun, the CEO of EDF's Italian unit Edison, says: Edison would be ready to open its capital to investors if it were to buy the retail gas and power business of Italian oil major Eni . says at moment Eni has not opened any sales process for its retail unit but if it did Edison would consider it Further company coverage: [EDF.PA] (Reporting by Milan newsroom).  Full Article

BRIEF-RTE's Brottes: industrial project to be ready mid-July
Wednesday, 11 May 2016 09:55am EDT 

Corrects time reference.: Edf grid unit RTE chief Brottes tells French parliament that rte is not considering job cuts .RTE's Brottes says industrial project will be ready end-June to mid-July, can't see capital opening before that.  Full Article

RTE's Brottes says industrial project to be ready early June
Wednesday, 11 May 2016 06:05am EDT 

Edf Grid Unit Rte Chief Brottes Says Industrial Project To Be Ready By End May : Edf grid unit rte chief brottes tells french parliament that rte is not considering job cuts .Early june, can't see capital opening before that.  Full Article

Edf CFO says not considering any spinoffs
Tuesday, 10 May 2016 12:55pm EDT 

Edf Cfo Says About Credit Rating That Edf Action Plan Is Comprehensive, With Cost Cuts, Disposals, Cap Increase : Edf cfo Girre says credit rating decision due from agencies in coming days . Edf cfo says carbon pricing impact on customers bills will be very limited . Edf cfo says we are not considering any spinoff in the group . Edf cfo says expects government to publish PPE July 1, on basis of this edf will consider extension of nuclear plant life time . EDF CFO says EDF action plans on cost cuts, disposals, capital increase is comprehensive and appropriate to finance our investments even if we are downgraded . Edf cfo says start of the year is positive for b2c and b2b for customer retention in france .Edf cfo says comfortable with consensus forecast for 2016 net income.  Full Article

EDF signs an agreement for the acquisition of Global Resource Options
Sunday, 24 Apr 2016 08:00pm EDT 

EDF SA:Signs an agreement for the acquisition of Global Resource Options, Inc, pursuing its expansion in renewables in the United States.  Full Article

France to invest 3 bln euros in EDF , accept dividends in shares - Reuters
Friday, 22 Apr 2016 03:04am EDT 

EDF SA:The French state will subscribe for 3 billion euros of a planned 4 billion-euro share issue by EDF and will accept the majority state-owned utility's proposal to pay its dividend on 2016 and 2017 earnings in shares - Reuters.  Full Article

EDF SA extends nuclear reactor outage following generator accident - Reuters News
Thursday, 14 Apr 2016 01:24pm EDT 

EDF SA:French utility EDF has extended the outage period of its Paluel 2 nuclear reactor to March 2017 after a steam generator weighing more than 450 tonnes crashed onto the reactor floor during handling last month - RTRS.The 1,300 megawatt Paluel 2 reactor in Normandy, northern France, was shut down in May 2015 for its 10-yearly inspection and was expected to be back on line in May this year.French grid operator RTE showed on its website on Thursday that the reactor is now expected to be back online in March 2017.Right after the accident late last month, EDF moved back the expected restart to end December this year.Philippe Sasseigne, EDF head of nuclear production in France, said in a note to staff last week, that the accident was a major setback which would have important consequences for the availability of the plant.A nuclear engineer familiar with EDF's reactor fleet said the fall of the 450 tonne steam generator from a height of more than 20 metres was well beyond the design limits of the reactor.and that the impact may have damaged the concrete reactor building as well as the attachment of the plant's piping.He said that removing the fallen generator and inspecting the entire plant for damage, similar to a seismic shock, could take up to two years.Thierry Charles, deputy head of the state-funded nuclear safety watchdog IRSN played down worries that the Paluel 2 plant would have been damaged beyond repair.  Full Article

Electricite de France SA - UK's Competition Markets Authority proposes energy price cap for some customers - Reuters News
Wednesday, 9 Mar 2016 09:05pm EST 

Electricite de France SA:Britain's competition watchdog wants to impose an energy price cap for 4 mln households on pre-payment meters, a document seen by Reuters showed, a watering down of previous proposals - RTRS.The Competition Markets Authority (CMA) proposals on Thursday are the provisional outcome of an investigation into whether the country's largest energy suppliers, also known as the "Big Six", have distorted competition in the energy market.The inquiry, which was launched in June 2014, is intended to clear up once and for all whether SSE, Iberdrola's Scottish Power, Centrica, RWE npower, E.ON and EDF Energy were abusing their control of the market.The price control for pre-payment meter customers would reduce their bills by a total of 300 million pounds a year and will remain in place until 2020, the CMA said.Last year, the CMA had proposed a price cap for all customers on the most expensive tariffs.On Thursday, the CMA said that in total, customers may have been paying around 1.7 billion pounds a year more than they would have done in a competitive market.The watchdog also proposed that a database is created, to be controlled by the energy regulator, to allow rival suppliers to contact customers who have been on more expensive tariffs for three years or more with better deals.  Full Article

EDF SA proposes FY 2015 dividend
Tuesday, 8 Mar 2016 02:02pm EST 

EDF SA:Proposed FY 2015 dividend of EUR 1.10 per share.  Full Article

EDF names provisional CFO after Piquemal quits-Reuters
Monday, 7 Mar 2016 03:04am EST 

EDF SA:Appoints Xavier Girre group chief financial officer after former CFO Thomas Piquemal quit - Reuters.  Full Article


Veolia has leeway for multi-billion euro acquisition, CEO says

AIX-EN-PROVENCE, France French utility Veolia has the financial firepower to make a multi-billion euro acquisition, its chief executive said on Saturday.