🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

EDF, rivals have not agreed nuclear price -producers

Published 10/22/2009, 10:11 AM
Updated 10/22/2009, 10:15 AM
EDF
-
ENGIE
-

PARIS, Oct 22 (Reuters) - The French electricity producers' Association (UFE) denied a press report that state-owned utility EDF had agreed with its rivals on prices at which it would supply them with nuclear electricity to bolster competition. The economic daily Les Echos newspaper said on Thursday that the parties had agreed that, as of 2010, EDF's rivals could buy electricity from the former monopoly's nuclear power plants at about 34 euros ($50.90) per megawatt hour, a price that would gradually increase to 55-60 euros until 2020.

"The UFE denies the information of Les Echos newspaper which says that an agreement had taken place in the sector on a price level," the Union Francaise de l'Electricite said in a statement.

The government last month announced it wanted to reform the French market to foster more competition, in line with European Union demands..

The market has been fully liberalised since July 2007 but EDF still owns all of France's 58 nuclear reactor, which provide an 80 percent share in overall electricity consumption.

Competitors such as Poweo or GDF Suez are struggling to attract clients because they do not have access to baseload electricity output.

The government reform plan includes ending state-set electricity tariffs for industries by 2015 and allowing rival power suppliers to buy nuclear-generated nuclear power at production cost.

A UFE spokeswoman said it was not part of the body's remit to decide on a price level but up to the government.

"We are discussing a general industrial framework but it is absolutely not up to us to decide on a price level," she said. (Reporting by Muriel Boselli, editing by Anthony Barker)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.