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

23/04/2014 00:57

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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.

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