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Electricite de France SA (EDF.PA)

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Latest Key Developments (Source: Significant Developments)

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

EDF raises $4.75 billion through a multi-tranche us dollar senior bond issuance
Wednesday, 7 Oct 2015 07:02pm EDT 

EDF SA:Raises $4.75 billion through a multi-tranche US dollar senior bond issuance.A $1.5 billion bond, with a 5 year maturity and a 2.35 pct fixed coupon.A $1.25 billion Green Bond, with a 10 year maturity and a 3.625 pct fixed coupon.A $500 million bond, with a 20 year maturity and a 4.75 pct fixed coupon.A $1.15 billion bond, with a 30 year maturity and a 4.95 pct fixed coupon.A $350 million bond, with a 40 year maturity and a 5.25 pct fixed coupon.  Full Article

Electricite de France SA - UK watchdog extends energy market probe to June 2016 - Reuters
Sunday, 20 Sep 2015 08:00pm EDT 

Electricite de France SA:Britain's competition authority has extended the deadline for its investigation into the country's largest energy suppliers by six months to late June 2016 to consider feedback from industry and consumer groups, it said on Monday - Reuters.Six suppliers -- SSE , Scottish Power, Centrica, RWE npower, E.ON and EDF Energy -- control more than 90 percent of the market and are under intense scrutiny because of public outrage over rising energy bills - Reuters.The Competition and Markets Authority (CMA) said it would aim to deliver the findings "well within" the new timeframe, with a provisional decision by January and a final decision by the end of April - Reuters.An interim update to the probe, published in February, showed most British energy customers who have not switched supplier and/or tariff have missed out on saving up to 234 pounds ($360) a year - Reuters.  Full Article

Total sells majority interest in Geosel to EDF Invest and Ardian
Thursday, 10 Sep 2015 03:18am EDT 

Total SA:Has signed an agreement to sell an interest of 50 pct plus one share in Geosel Manosque (“Geosel”) to a 50-50 consortium composed of EDF Invest and Ardian.The transaction values Total's interest at 265 million euros as at Jan. 1, excluding inventory.Total, which currently owns a 53.4 pct stake in Geosel, will remain a minority shareholder with an interest of 3.4 pct and will continue to use Geosel’s infrastructure, mainly to ensure logistics for its industrial facilities in southern France.  Full Article

EDF confirms FY 2015 EBITDA guidance
Thursday, 30 Jul 2015 02:18am EDT 

EDF SA:Confirms FY 2015 target of organic growth of 0 to 3 pct in group EBITDA.  Full Article

EDF announces strategic partnership with Areva
Thursday, 30 Jul 2015 02:18am EDT 

EDF SA:On 30 July, EDF and Areva signed a memorandum of understanding that formalised the status of the progress of discussions concerning their contemplated partnership.This memorandum has 3 sections.Firstly, EDF and Areva will enter into a comprehensive strategic and industrial agreement, in order to, in particular, improve and develop the efficiency of their cooperation in areas such as research and development, international sales of new reactors, the storage of spent fuel, and dismantling.Secondly, this memorandum deals with the contemplated acquisition by EDF of an exclusive control of AREVA NP, the company in charge of equipment and fuel manufacturing as well as services for reactors.It provides for a majority control (at least 51 pct) of AREVA NP by EDF, a maximum stake of 25 pct held by Areva as part of a strategic partnership, and the potential participation of other minority partners.Lastly, the memorandum aims to set-up a dedicated company - 80% owned by EDF and 20% owned by AREVA NP - aimed at optimising the design and management of new reactors projects.The parties agreed on an indicative price (100% of equity value) of 2.7 billion euros at the closing date.The memorandum also provides that EDF, AREVA NP, and their subsidiaries will be completely immunised against any risks related to the Olkiluoto 3 project.  Full Article

EDF may appeal EU Commission aid decision
Wednesday, 22 Jul 2015 06:00am EDT 

EDF SA:Takes note of EU Commission decision and will proceed to reimburse sums required.Denies the existence of unlawful State aid and will file, subject to the review of the decision, an action for annulment before the Tribunal of the European Union.Decision should lead to an increase in net financial debt of group of around 0.9 billion euros.  Full Article

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Desperate uranium miners switch to survival mode despite nuclear rebound

LONDON The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive.