France’s EDF close to an agreement with heavy industry groups

23/04/2014 00:57


French utility EDF is approaching an agreement to reduce electricity tariffs paid by a group of industrial firms, counting chemical producer Solvay and metals conglomerate ArcelorMittal, as published in Les Echos newspaper.

Several months ago, the government solicited to EDF to renegotiate a contract signed with the Exeltium consortium dating back from 2010, which includes approximately 20 companies that are most important consumers of electricity. The conglomerate was at first designed for ensuring attractive prices for the industrial groups, but the members were more and more unsatisfied by the electricity tariffs, stating that the price they were paying was much higher than in US or in Germany. According to the paper, the two parts decided to lower the electricity prices that the firms will pay for the next 5 or 6 years, in return for potential raises after this period until 2034. The tariff of 42 euros per megawatt hour will be almost at the level of the tariffs that EDF proposes to individual and professional customers, or 47 to 52 euros paid presently by Exeltium, as stated in the paper.

Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output

02/03/2021 09:24:00

Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.


Lithuania to start supplying LNG to Poland next year

02/03/2021 08:57:00

Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.


ENA brings more flexibility to the grid with contract update

02/03/2021 08:53:00

The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.