Mon, Apr. 25, 11:59 AM
- Electricité de France (OTC:ECIFF) will move forward with the $26B nuclear reactor project at Hinkley Point in the U.K. after approving a €4B capital increase on Friday, CEO Jean-Bernard Lévy says.
- Lévy says the project - which prompted CFO Thomas Piquemal to quit last month over concerns about financing - is essential for the future of the French nuclear sector.
- Investors apparently believe Hinkley Point is more of a burden than a benefit to a firm with a €37B debt pile, and shares are -11% in Paris trading.
Sep. 21, 2015, 2:34 PM
- Cheniere Energy (LNG -2.1%) agrees to send 24 cargoes of liquefied natural gas, or 89T BTUs, from its Sabine Pass Terminal in Louisiana in 2017 and 2018 to Electricite de France (OTC:ECIFF), its second deal in two months to ship the fuel to France after EDF agreed to buy as many as 26 cargoes last month.
- The sales price of the shipments will be linked to the Title Transfer Facility in the Netherlands, continental Europe's biggest and most liquid gas trading point, but Reuters reports that LNG retained cancellation options as part of its deal, meaning it could escape some supply commitments if it found more profitable outlets in Asia or the Middle East.
- LNG says the accord with EDF takes Cheniere Marketing’s sales to 92 cargoes, or up to ~340T BTUs, to buyers in Europe and Asia through 2018.
Nov. 7, 2013, 11:55 AM
- Veolia Environnement (VE +2.5%) moves higher after reporting its net financial debt stood at €9.6bn at the end of Q3 vs. €10.8B at the end of last year amid otherwise lackluster earnings results.
- Revenue for the first nine months of the year was €16.2B, down 1.9% Y/Y and in line with analysts’ expectations, but adjusted operating income rose 20.4% to €621M during the nine months.
- VE says the conclusion of talks under way with French electricity utility EDF (ECIFF, ECIFY) to divide Dalkia’s business would lead to VE taking over 100% of Dalkia’s international activities.
Currently, there's no company description for ECIFF.
Industry: Water Utilities
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