Growth in International and Other Activities: +13%/Group Organic growth: +2.9%
- By April Murelio -
Group’s sales continued to grow thanks to the buoyant International activities, which benefited from a substantial contribution of British Energy (€2.5 billion). Sales in the United Kingdom increased by 44.3%, and by 12.1% on an organic basis. Further strong performances by EDF Trading, EDF Energies Nouvelles and EDF subsidiaries in Poland also contributed to growth of Group’s sales.
United States
The US Nuclear Regulatory Commission (NRC) gave its approval on 9 October 2009 to
EDF’s investment in Constellation Energy Nuclear Group, LLC.
On 2 November 2009, Constellation Energy’s Board of Directors approved moved forward
based on the conditions set forth in the order issued by the Maryland Public Service
Commission with respect to the creation of a nuclear joint venture between EDF and
Constellation Energy. Approval from the Maryland PSC completes the regulatory review
process, and the companies now have received all necessary approvals at the federal and
state levels to proceed with the transaction without modification to the previously agreed
terms of the transaction. On 6 November 2009, EDF (through EDF Development Inc., a
wholly-owned subsidiary of EDF) completed its investment in Constellation Energy Nuclear
Group LLc which is structured as a new joint venture with Constellation Energy.
Nuclear International:
Italy
On 3 August, EDF and Enel created an equal-basis joint venture (“Sviluppo Nucleare Italia
SRL”) aimed at carrying out feasibility studies into the construction of at least four reactors
using EPR technology in Italy, in accordance with agreements signed between the two
Groups at the Franco-Italian summit in February this year.
Tariffs in France
On 15 August 2009, government-regulated residential electricity prices (blue tariff)
increased by an average of 0.2 eurocents per kWh, a moderate increase of 1.9%. For
business customers and local authorities (yellow and green tariffs), the average increase
has been less than 0.3 eurocents per kWh. The new tariff concerns both electricity supply
and routing operations, since it takes into account the new tariffs for using transmission
and distribution grids introduced on 1 August
Optimization of European asset portfolio
On 1 October 2009, EDF, EnBW and E.ON signed agreements bearing on swaps of
electricity drawing rights and generation assets totalling more than 1200 MW between
France and Germany. Under the terms of the agreements, EDF also transferred its 18.75%
stake in SNET to E.ON, conjointly with Charbonnages de France, which was the historic
shareholder with a 16.25% interest.
Asset divestment plan
EDF announced on 2 October 2009 that it had initiated a process aimed at evaluating
ownership options for its electricity distribution business in the United Kingdom. This
process is consistent with the Group’s goal, announced in February 2009, of reducing its
financial debt by at least €5 billion by the end of 2010.
The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95% of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries in France operate 1,274,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of € 64.3 billion in 2008, of which 47% in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.
Significant events since 1 August 2009