|Bid||11.345 x 8000|
|Ask||11.700 x 50000|
|Day's Range||11.330 - 11.760|
|52 Week Range||7.645 - 12.480|
|PE Ratio (TTM)||11.70|
|Forward Dividend & Yield||0.46 (3.96%)|
|1y Target Est||N/A|
PARIS/FRANKFURT (Reuters) - European utility companies are retrenching in their home markets and looking to unwind debt-financed cross-border merger deals as increasingly nationalist governments balk at foreign ownership of strategic power supplies. Hungary was one of the first European countries to turn against foreign ownership of utilities back in 2013 but there are growing signs that borders are springing up again in an industry that has struggled to make international deals pay off. Several European utilities were lining up to buy German utility RWE's (RWEG.DE) subsidiary Innogy (IGY.DE) but in March RWE and domestic rival E.ON (EONGn.DE) agreed to carve up the renewable energy firm themselves in an all-German deal.
A nationwide strike called by unions to protest against the government's planned liberalisation reforms has reduced French electricity generation at nuclear and coal-fired plants by over 4 gigawatts on ...
Oil company Total (TOTF.PA) said it will buy a majority stake in French electricity retailer Direct Energie (DIREN.PA) in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF (EDF.PA). The deal is part of Total's strategy to grow its low-carbon energy assets to 20 percent of total assets by 2035 from 5 percent today and comes as other global oil and gas majors also shift to more renewable energy and electricity. "This friendly takeover is part of the group's strategy to expand along the entire gas-electricity value chain and to develop low-carbon energies," CEO Patrick Pouyanne said.
EDF Energy said on Thursday it would raise its energy prices in Britain, the second firm this week to announce an increase, despite pressure from the government to keep bills down. The British arm of French utility EDF (EDF.PA) said the rise was due to higher costs associated with supplying electricity, echoing comments made by rival Centrica (CNA.L), which announced its rise on Tuesday. "EDF Energy continues to face pressures with energy, policy and the costs of installing smart meters all increasing significantly since last summer," it said in a statement.
The Environmental Defense Fund, a US green group, plans to spend tens of millions of dollars on a satellite to spot methane leaking from oil and gas industry installations. The project, which will be funded ...
French state-controlled utility EDF (EDF.PA) will have to inspect more weldings at the nuclear plant it is building in Flamanville, France after flaws were discovered in the weldings of the reactor's secondary circuit, nuclear regulator ASN said. EDF said on Tuesday that problems with Flamville's weldings were worse than first expected and may impact the cost and startup of the long-delayed project. The utility will comment on the start-up schedule at the end of May, after it has verified all 150 weldings in the secondary circuit that conducts steam from the steam generator to the plant's turbines.
China has begun loading fuel at its first European Pressurised Reactor (EPR) unit in the southeastern province of Guangdong, developer China General Nuclear Power (CGN) said, a sign that the long-delayed project could finally be close to completion. CGN, which owns 70 percent of the project, said in a notice on its official Wechat account that it was given formal approval to begin fuel loading at Unit 1 of the Taishan project by the National Nuclear Safety Commission on Tuesday. Fuel loading at the site began late on Tuesday evening following a ceremony.
Britain's Co-operative Energy will buy fellow energy supplier Flow Energy, the two companies said on Tuesday, with the smaller firm warning it would have struggled under the government’s looming price cap. Flow Energy, the main business of Flowgroup (FLOWF.L), which is listed on London Stock Exchange's AIM junior market, will be sold for 9.25 million pounds ($13.10 million), FlowGroup said. Flow Energy has around 130,000 customers and is one of the more than 50 suppliers challenging Britain's big six energy providers - Centrica's (CNA.L) British Gas, SSE (SSE.L), E.ON (EONGn.DE), EDF Energy (EDF.PA), Innogy's (IGY.DE) Npower and Iberdrola's (IBE.MC) Scottish Power.
Problems with weldings at a nuclear reactor under construction in Flamanville are worse than first expected and may impact the cost and startup of the long-delayed project, French state-owned utility EDF (EDF.PA) said on Tuesday. When EDF first reported weldings problems on Feb. 22, it initially said there would be no impact on safety, costs or the reactor startup schedule.
French utility EDF said on Tuesday that problems with the weldings at its Flamanville site may have an impact on the costs and the schedule for starting the long-delayed nuclear reactor. Following an assessment ...
French consumers group UFC Que Choisir said the virtual monopoly on electricity generation in France held by the country's state-owned utility EDF (EDF.PA) leads to higher prices, and it called for tighter regulation. UFC said in a study that when wholesale power prices are low, EDF systematically underutilised its nuclear plants, which leads to more expensive fossil-fuel fired power generation assets to be used, and in turn results in higher power prices. The consumer group said it estimated EDF had boosted its revenue by about 2.3 billion euros (2.00 billion pounds) in this way between 2012 and 2017.
Pent-up demand and cheaper equipment helped drag down wind-power prices to the lowest ever in Brazil, and almost reaching the Latin America record.
Italian energy group Edison (EDNn.MI), part of French utility EDF (EDF.PA), is preparing the sale of its oil and gas unit, the latest power producer to abandon fossil fuels to focus on its retail business, four industry sources said. Edison has selected investment banks Rothschild (ROTH.PA) and Perella Weinberg to organise an auction for the exploration and production division, which could be valued at $2 billion (1.43 billion pounds) to $3 billion, one of the sources said. The company has been looking to increase the size of its domestic electricity and gas retail business, betting on the market opening up to more competition, with retail energy customers increasingly able to chose their supplier.
French rail workers launched a series of nationwide strikes on Tuesday, threatening months of transport disruption in the sternest challenge yet to President Emmanuel Macron's efforts to modernise Europe's second biggest economy. State-run rail company SNCF, which Macron wants to overhaul, said 48 percent of the workers needed for the network to run smoothly were absent, as they joined the protests against plans to trim benefits including job guarantees and generous pensions. "I do understand why they're striking," said Marie Charles, a Paris commuter.
French railway services were decimated on Tuesday, the first day of rolling strikes which are due to run for months in a serious test for President Emmanuel Macron's resolve to modernise the French economy. The four main rail unions have called two days of strikes in every five days for the next three months to protest against a shake-up of the national SNCF rail monopoly before it is opened up to competition as required by EU law. The last time a French president squared off against rail unions over workers' benefits it ended badly.
Electricite de France SA is among companies warning the U.K. government about significant threats to their businesses after Britain leaves the European Union, according to a report in the Mail on Sunday, ...
French state-owned utility EDF (EDF.PA) plans to invest eight billion euros (7 billion pounds) between 2018 and 2035 to become a European market leader in electricity storage. EDF, which already operates pumped storage hydropower plants and some utility-scale power storage batteries, said on Tuesday it aimed to become a French and European market leader, offering storage batteries for customers in the retail power sector. "With storage we can smooth out the intermittence of renewable energy and guarantee the balancing of power grids," EDF chief executive Jean-Bernard Levy told reporters.
French workers plan to cut output at electricity generation sites on Thursday as part of a nationwide strike by unions against planned government liberalisation reforms, hardline union CGT said in a statement. Power sector workers will join rail and public sector workers who will take to the streets on Thursday to protest against President Emmanuel Macron's planned reform of the rail and French civil service. The CGT said the French power sector was under the threat of planned liberalisation reforms which could jeopardise French energy security.
DUESSELDORF/FRANKFURT (Reuters) - Innogy (IGY.DE), Germany's largest listed energy group said it will continue with its advertising strategy despite plans by parent RWE (RWEG.DE) and peer E.ON (EONGn.DE) to break it up. Listed to much fanfare in 2016 in Germany's largest share sale since 2000, Innogy spent a mid-double digit million euro sum on introducing its brand, it said. "We are not conducting our business any different in light of the agreement with regard to the planned transaction between RWE and E.ON," Innogy said in emailed comments to Reuters when asked whether ad spending would fall.
France announced last year plans to sell some 10 billion euros (£8.78 billion) worth of stakes in state-owned companies in order to raise money for a new fund to finance innovation, an election pledge of President Emmanuel Macron. Renault, at the heart of a power struggle over its ownership, topped the list, with 56 percent in favour of the state selling at least some of its 15 percent stake.
PARIS (Reuters) - The French nuclear industry is considering developing Small Modular Reactors (SMRs), but will have to ensure these miniaturised generators are not only technically feasible but also financially ...
The French nuclear industry is considering developing Small Modular Reactors , but will have to ensure these miniaturised generators are not only technically feasible but also financially viable, executives ...
French utility EDF (EDF.PA) is confident that nuclear safety regulator ASN will allow it to extend the lifespan of its nuclear reactors beyond 40 years, an EDF executive said on Thursday. Dominique Miniere, head of EDF's French nuclear and thermal fleet, told a parliamentary committee hearing about nuclear safety that the company has been having discussions with the regulator on what safety aspects it should tackle if it wants to extend the lifespan of its reactors. "We are confident that we will be able to continue operating our nuclear reactors after the fourth decennial overhaul," Miniere said.
In December 2017, Electricité de France SA. (ENXTPA:EDF) announced its latest earnings update, which signalled that the business gained from a robust tailwind, leading to a double-digit earnings growth ofRead More...