France: EDF to lower electricity tariffs for most energy-intensive factories

22/07/2014 00:23 Electricity Market


French electricity giant EDF has agreed to curb electricity prices for the country’s most energy-intensive factories to make them more competitive than their counterparts in Germany and North America, where power prices are lower.

State-controlled EDF has signed a memorandum of understanding with the Exeltium consortium of companies which will allow the electro-intensive companies of the consortium to regain competitiveness, following the sudden drop of market prices. Under this MoU, the price paid for electricity supply will first be lowered, before being increased again after five years, depending on the evolution of the electricity market price. The mechanism is aimed to make the contract more flexible and has been conceived in such a manner as not to compromise its economic balance. The others parameters of the contract (volume delivered, opt-out options and industrial risk responsibility) will be not modified. According to EDF, this measure will imply a retroactive price cut from January 1, 2014. Exeltium has joined 27 electro-intensive industrial companies since 2008, including chemical firm Solvay, steel maker ArcelorMittal , and industrial gases group Air Liquide, for which electricity can account for as much as half of production costs.

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.


French Feb nuclear falls to record low as maintenance season starts early

02/03/2021 08:47:00

Average French nuclear generation fell to a record low in February of 45 GW, down 5.5% on the year, grid operator data showed March 1.


Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

01/03/2021 11:10:00

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.