EDF’ s Edison will acquire Eni’s Italian energy retail business

29/11/2016 10:35 Electricity Market


Italian energy group Edison, a unit of French utility EDF is interested in acquiring oil company Eni’s retail business.

Edison wants to triple the size of its domestic electricity and gas retail business by 2018-2019 at a level of 3 to 4 million against 1.2 million currently, while Eni wants to sell its portfolio of some 8 million Italian gas and power retail supply accounts as part of a plan to repay debt and fund major oil and gas projects. If the deal with Eni is realized, EDF-which holds 99.48 percent of Edison- would sell a 20-35 percent stake in Edison to a long-term Italian investor to finance this operation, said Edison's chief executive Marc Benayoun. Eni is now number two in the Italian market with nearly 8 million individual customers (5.9 million gas customers and 2 million electricity subscribers), behind the giant Enel (31.6 million customers) and far ahead of Edison. Acquiring Eni could move Edison up in the rankings.

France's EDF extends Cruas 2 nuclear reactor outage to Saturday

05/12/2019 09:13:00

French utility EDF on Wednesday extended the outage at its 900 MW Cruas 2 nuclear reactor by two days until Saturday, adding that resumption of power generation could be delayed by ongoing safety checks following an earthquake.


Total to supply LNG fuel to CMA CGM vessels for 10 years

05/12/2019 09:09:00

French energy major Total and compatriot shipping company CMA CGM have signed an agreement for the supply of approximately 270,000 tonnes of LNG per year over ten years.


France nearing 10 GW of installed solar capacity

05/12/2019 09:06:00

France commissioned 707 MW of new solar photovoltaic (PV) capacity in the first nine months of 2019, bringing cumulative grid-connected installations to 9,649 MW, government statistics show.