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.

Italy's Enel to close one Brindisi coal unit in 2021

01/06/2020 10:30:00

Italian utility Enel will shut down one of the four units of its 2.4GW Brindisi south coal-fired plant starting from next year.


UK gas charging reform to be implemented from 1 Octobe

01/06/2020 10:26:00

UK energy regulator Ofgem will introduce a reform to the UK's gas transmission charging regime from the start of October, with no changes from its previous recommendations.


Daily (29.05.2020): UK gas prices plunged to historical lows due to oversupply and weak demand

29/05/2020 10:37:00

Crude oil futures turned higher on Thursday, shrugging off an unexpected rise in U.S. crude stockpiles as traders focused on falling gasoline stocks and a further decline in crude stored at the New York Mercantile Exchange’s delivery hub in Cushing, Oklahoma. Moreover, expectations for further oil outputs cuts by Russia starting from July added to the upbeat sentiment.