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Electricite de France SA (EDF.PA)

EDF.PA on Paris Stock Exchange

22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

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

EDF SA - Strike over job cuts at EDF curbs French power output - union - Reuters
Wednesday, 20 Jan 2016 11:47pm EST 

EDF SA:A strike by workers of French utility EDF EDF.PA over planned job cuts at the heavily indebted firm has cut French power output by at least 11.5 GW on Thursday, a union official said - RTRS.EDF is holding a works council meeting with staffs on Thursday were it is expected to announce thousands of job cuts. Grid operator RTE's website showed that production in at least four nuclear power stations had dropped - RTRS."The strike started last night," Laurent Langlard, a spokesman for the CGT trade union told Reuters, adding that most hydro power stations were also affected. "There is about 11.5 GW cut in production," he said - RTRS.  Full Article

EDF reviews its FY 2015 net income guidance negatively
Friday, 15 Jan 2016 04:30am EST 

EDF SA:Says Cigeo project cost at 25 bln euro to result in 800 mln euro increase in provisions in 2015 accounts‍​.Says to have impact of around 500 million euros post-tax on net income group share in 2015.  Full Article

EDF and Areva agreed on value of Areva's reactor business
Tuesday, 12 Jan 2016 07:00pm EST 

EDF SA:EDF nd French nuclear group Areva AREVA.PA have agreed that Areva's reactor business is worth slightly more than 2.5 billion euros as part of EDF's plan to take a controlling stake in the unit.  Full Article

EDF SA - EU investigates French capacity mechanism plan, Brittany plant - Reuters
Friday, 13 Nov 2015 02:43am EST 

EDF SA:European Union state aid regulators opened a full investigation on Friday into a French plan to offer state subsidies to avoid power blackouts, concerned this may favour some energy companies and stifle new competitors- RTRS.As part of its investigation, the European Commission will also examine a tender for a gas-fired power plant in Brittany, worried that public support for just one type of technology may create a subsidy-dependent market - RTRS.European Competition Commissioner Margrethe Vestager said France's plan to ensure secure energy supply and protect against the risk of blackouts must comply with EU state aid rules - RTRS.The European Commission will vet the French capacity mechanism - set to go live early next year - for compliance with EU state aid regulations, a French power market specialist said - RTRS.Given the dominant market position of state-controlled utility EDF EDF.PA, the EU Commission may want to verify the mechanism provides equal access for all participants, he said - RTRS.  Full Article

EDF Energies Nouvelles acquires a 177 MW wind farm project in Scotland
Thursday, 12 Nov 2015 08:36am EST 

EDF SA:EDF Energies Nouvelles acquires 177 MW Dorenell wind farm project in Scotland.Wind farm may eventually have more than 200 MW in installed capacity, provided that it gains two extension permits.  Full Article

EDF announces new agreement regarding the EDF Luminus shareholder structure
Monday, 26 Oct 2015 12:51pm EDT 

EDF SA:The shareholders of EDF Luminus: Publilec, Socofe, Ethias, Nethys and EDF Group signed amendments to the EDF Luminus shareholders agreement which will extend the agreement until 2025.The ammendments provide for the following re-organisation of the shareholder structure.Four Belgian shareholders will remain: Publilec (26.4 pct), Socofe (4.7 pct), Ethias (0.2 pct) and Nethys (0.1 pct) will benefit, under the shareholders agreement, from a liquidity mechanism which will enable them to exit the capital of EDF Luminus from the end of 2018.EDF Group will acquire Publilum and VEH`s combined 6.33 pct stake in EDF Luminus which will increase EDF`s stake to 68.63% (in place of 62.3% previously).In consequence, the Board of EDF Luminus has decided to terminate the project to launch an IPO of EDF Luminus which had been initiated in May of this year.  Full Article


France strike hits nuclear plants sending output lower

PARIS Nuclear power plants across France were hit with unplanned outages on Thursday after unionized workers at utility EDF joined a rolling nationwide strike against planned government reforms.