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ECIFF vs. ETF Alternatives
Tuesday, Apr 89:44 AM
Tuesday, Apr 89:44 AM| Comment!
- Gazprom (OGZPY) wants to push ahead with plans to build a €16B ($22B) pipeline to send gas from Russia across the Black Sea and into Italy - bypassing Ukraine, through which ~50% of Europe-bound Russian gas flows - but in the wake of Russia's annexation of Crimea, the fate of the project is now in limbo.
- Absent from today's talks between Gazprom and EU bureaucrats were executives from Gazprom's partners - Italy's Eni (E), Electricité de France (ECIFF) and Germany's Wintershall.
- Despite the uncertainty, Gazprom, which holds a 50% stake in the project, is pressing ahead with construction, laying pipes in Russia, Bulgaria and Serbia in the hope that the pipeline will be operational by 2015.
Tuesday, Apr 12:23 PM
Tuesday, Apr 12:23 PM| Comment!
- Electricite de France (ECIFF) says it has finalized a deal with U.S. partner Exelon (EXC -0.4%) that paves the way for the French power company to start withdrawing from its foray into the U.S. nuclear power sector.
- EDF will delegate to EXC the operational management of the five nuclear reactors owned by their jointly owned energy company Constellation Energy Nuclear Group.
Thursday, Mar 69:46 AM
Thursday, Mar 69:46 AM| 1 Comment
- Italy's Edison, the utility owned by Electricite de France (ECIFF), is in talks to buy two Israeli gas fields, which are estimated to hold up to 50B-70B cubic meters combined, from Noble Energy (NBL) and Delek Drilling (DKDRF), Reuters reports.
- The U.S. and Israeli companies developing the huge Leviathan natural gas field offshore Israel, and must sell their stake in two smaller fields to avoid being branded a cartel by the anti-trust authority.
Thursday, Nov 72013, 11:55 AM
Thursday, Nov 72013, 11:55 AM| 1 Comment
- 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.
Monday, Oct 282013, 7:47 AM
Monday, Oct 282013, 7:47 AM| Comment!
- Electricite de France (ECIFF, ECIFY) and Veolia Environnement (VE) reportedly strike a deal over the ownership of their energy generation joint venture Dalkia, putting an end to a nearly two-year-old dispute.
- EDF would take over the French activities of Dalkia, while VE will take over the venture's international business; VE will pay €550M ($759M) to EDF as part of the deal.
Monday, Oct 212013, 4:54 AM
Monday, Oct 212013, 4:54 AM| Comment!
- As expected, the U.K. government has signed an agreement for Electricite de France (ECIFF) to build the country's first nuclear power station in almost three decades in a project that will cost £16B ($25.9B) and create 25,000 jobs.
- The construction of the plant, which will be located in south west England, is a major test over whether nuclear power has a future in Europe.
- The agreement also includes options to build another two reactors in the south-east of the country.
- EDF will own 45-50% of the venture, French engineering firm Areva (ARVCF) 10%, and two Chinese companies 30-40%.
- Nuclear-power equipment makers include AZZ (AZZ) and Babcock & Wilcox (BWC).
- Nuclear/uranium ETFs: NLR, NUCL, URA
Monday, Oct 142013, 7:38 AM
Monday, Oct 142013, 7:38 AM| Comment!
- Electricite de France (ECIFF.PK) is close to agreeing a deal with the British government for the French utility to construct and operate two nuclear reactors on the west coast of England at a cost of £14B ($22.4B).
- The sides have reached the elusive "strike price," or the guaranteed price at which EDF would sell the electricity it generates.
- The construction of the plant is a major test over whether nuclear power has a future in Europe.
- Nuclear/uranium ETFs: NLR, NUCL, URA
Friday, Oct 112013, 12:40 PM
Friday, Oct 112013, 12:40 PM| Comment!
- The U.K. government and Electricité de France (ECIFF.PK, ECIFY.PK) are nearing a £14B ($22.4B) deal that would see the French power giant build and operate a pair of nuclear reactors at Hinkley Point on the west coast of England, WSJ reports.
- Negotiations have dragged out over the issue of the strike price - the guaranteed price at which EDF would sell the electricity generated by the new nuclear plant - but sources say an agreement is near.
- The project is seen as a litmus test over whether the nuclear industry has a future in Europe at a time of lower gas prices and sluggish economic growth.
Sunday, Jul 142013, 2:07 AMRio Tinto (RIO) has agreed to sell two money-losing French aluminum facilities to German group Trimet and Electricite de France (ECIFF.PK), which are acquiring 65% and 35% respectively. The sale is part of Rio's strategy of divesting non-core and/or unprofitable assets. The deal is a boost to France's attempts to keep major facilities open and save jobs, with the new owners intending to invest €200M to modernize the installations. |Sunday, Jul 142013, 2:07 AM| Comment!
Tuesday, Feb 122013, 9:40 AMAny plans the U.K. had for building new nuclear plants appear to be in trouble, as a standoff over a guaranteed electricity price shows no sign of ending. In a setback for plans to replace aging coal-burning and nuclear plants, the disagreement between the U.K. government and Electricite de France likely will further delay a decision to build the much-needed plants until at least the summer. |Tuesday, Feb 122013, 9:40 AM| 3 Comments
Tuesday, Jan 152013, 2:51 PMTwo consortia led by French power group Electricite de France and financial firm Caisse des Depots are the two final bidders for Total's (TOT) gas storage unit TIGF, WSJ reports. TIGF was put up for sale by TOT last fall as part of a strategy to sell as much as €20B ($26.7B) in assets by 2015 to help boost cash flow and finance major investments; TIGF is valued at €2.5B-€3B. |Tuesday, Jan 152013, 2:51 PM| Comment!
Thursday, Nov 152012, 9:19 AMEuropean energy companies with minority stakes in Russia's Gazprom-led South Stream natural gas pipeline can exit the project if certain conditions aren't "satisfied in the future," according to the company managing the construction of the underwater part of the project. Minority partners include Eni (E), BASF and Electricite de France. |Thursday, Nov 152012, 9:19 AM| Comment!
Tuesday, Dec 272011, 5:01 AM
Wednesday, Nov 162011, 7:30 AMIf the Socialist Party wins next year's elections in France, an electoral pact with other parties could give enough support to a movement to phase out nuclear power in the nation to put it over the top. Under a plan swirling around between parties, 24 out of France's 58 nuclear reactors would be closed by 2025. Shares of Electricite de France (ECIFF.PK) -6% in Paris trading. |Wednesday, Nov 162011, 7:30 AM| 3 Comments
Wednesday, Oct 272010, 7:25 AMConstellation Energy (CEG) and EDF (ECIFF.PK) agree to part ways following the deterioration of their partnership over the last few months. EDF will acquire Constellation's 50% ownership in UniStar, their five-year old JV, and Constellation will get $250M in stock and cash. (PR) |Wednesday, Oct 272010, 7:25 AM| Comment!
Friday, Oct 152010, 11:45 AMConstellation Energy (CEG) proposes transferring the UniStar nuclear-plant JV to its disappointed partner Electricite de France (ECIFF.PK) for a nominal $1, in an effort to keep a Southern Maryland plant on track. While the plan would take CEG out of new nuclear business, it looks like EDF would retain its near half-ownership of three existing plants. (previously) |Friday, Oct 152010, 11:45 AM| Comment!