Showing posts with label EDF. Show all posts
Showing posts with label EDF. Show all posts
[UNITED KINGDOM] British Energy bidding war hopes wither
Published | 10-May-2008
Hopes of a bidding war for nuclear power generator British Energy faded yesterday as Germany's RWE did not make a bid by the day's deadline. Spain's Iberdrola also did not make an offer for British Energy yesterday, but did not rule out a future offer, an industry source said.
When the UK government put its 35 per cent stake in the firm up for sale, many of Europe's largest utilities showed interest.
But as the deadline loomed, some fell away and none seemed set to offer more than the shares have recently traded at. British Energy shares ended down 2pc at 701 pence, up from a low of 685p, valuing the government's stake at about £3.5 billion ($6.83bn).
German utility RWE, which was set to bid less than 700 pence a share, did not make an offer yesterday after Swedish partner Vattenfall pulled out of the auction having faced pressure from its owner, the Swedish government, according to sources familiar with the matter. RWE could get involved at a later date, however, either alone or with a different partner. "RWE are not necessarily walking away," one of the sources said.
"Iberdrola has not submitted an offer for British Energy, but no final decision has been taken," an industry source said, meanwhile, adding that the firm was still interested in taking part in Britain's new nuclear building programme.
France's EDF, expected to offer "substantially" less than 700 pence per share, has made an offer for the company without a partner, however, according to sources familiar with the matter.
Yesterday's second-round bid deadline was for formal offers with details of financing, said the sources, adding however that these are not final binding bids and there may be a third round, meaning, for instance, that RWE would be able to make an offer at a later date if it chose to. The UK's main gas provider, Centrica, the only British firm still in the race, will not improve on an indicative all-share offer of under 700 pence, an industry source said.
The company, which despite needing power generation to supply its customers is widely seen as too small to make its own cash bid, is in talks with EDF and Iberdrola about possible joint possible offers.
When the UK government put its 35 per cent stake in the firm up for sale, many of Europe's largest utilities showed interest.
But as the deadline loomed, some fell away and none seemed set to offer more than the shares have recently traded at. British Energy shares ended down 2pc at 701 pence, up from a low of 685p, valuing the government's stake at about £3.5 billion ($6.83bn).
German utility RWE, which was set to bid less than 700 pence a share, did not make an offer yesterday after Swedish partner Vattenfall pulled out of the auction having faced pressure from its owner, the Swedish government, according to sources familiar with the matter. RWE could get involved at a later date, however, either alone or with a different partner. "RWE are not necessarily walking away," one of the sources said.
"Iberdrola has not submitted an offer for British Energy, but no final decision has been taken," an industry source said, meanwhile, adding that the firm was still interested in taking part in Britain's new nuclear building programme.
France's EDF, expected to offer "substantially" less than 700 pence per share, has made an offer for the company without a partner, however, according to sources familiar with the matter.
Yesterday's second-round bid deadline was for formal offers with details of financing, said the sources, adding however that these are not final binding bids and there may be a third round, meaning, for instance, that RWE would be able to make an offer at a later date if it chose to. The UK's main gas provider, Centrica, the only British firm still in the race, will not improve on an indicative all-share offer of under 700 pence, an industry source said.
The company, which despite needing power generation to supply its customers is widely seen as too small to make its own cash bid, is in talks with EDF and Iberdrola about possible joint possible offers.
Source: Gulf Daily News
FRANCE: Electricite de France plans Scottish Power merger
Published | 23-Mar-2008
Electricité de France (EDF), the giant French utility, is drawing up plans to merge its British energy subsidiary with Scottish Power if it secures one of Europe's biggest-ever takeover deals.
Scottish Power is owned by Iberdrola, Spain's largest energy supplier by market value, and EDF is hoping to acquire it as part of a €63bn consolidation of the European utility sector.
EDF is in talks about an alliance with Spanish construction group Actividades de Construcción y Servicios (ACS), which would see the duo make simultaneous bids for Iberdrola and Spain's third largest supplier Union Fenosa. Under the deal, ACS would acquire all of Iberdrola, which has a market value of €50bn, and break it up. Scottish Power, worth about €15bn, and other units would be sold to EDF. ACS already holds a 13 per cent stake in Iberdrola.
EDF, meanwhile, would oversee the bid for Unión Fenosa, a company valued at €13bn in which ACS holds a 45 per cent stake.
Iberdrola recently expanded the responsibilities of Scottish Power chief executive and group strategy head José Luis del Valle, and it is unclear whether he retains his leadership of the British company under the new arrangements.
French president Nicolas Sarkozy said last week he was in close contact with the Spanish government to discuss energy issues and that the two nations were trying to find "consensual solutions". The Spanish firms declined to comment.
An EDF spokesperson was reported as saying the French firm was willing to play a role in restructuring Spain's energy sector, but would only do so with the approval of the Spanish authorities. The deal would be Europe's largest cross-border acquisition in the energy sector. EDF, which is owned by the French state, is one of Britain's largest energy suppliers with 5.1m customers.
It is not clear whether EDF would face competition hurdles in Britain if it pursued a takeover of Scottish Power. Scotland's first minister, Alex Salmond, is campaigning against a French takeover of Scottish Power, which was bought by Iberdrola for €15bn in 2006.
The EU has worked to heighten competition and create a single cross-border energy market in an industry still dominated by former or state-owned monopolies. It has allowed a French power producer to set up in Spain and an Austrian company to move into Italy.
Source: The Telegraph |By Mark Kleinman and Juliette Garside
FRANCE: French Niger Uranium Mines Under Direct Threat From Tuareg Nomads
Published | 09-Feb-2008
Areva, the world's largest nuclear power company, said Thursday it was "nobody's enemy" in Niger following Tuareg rebel threats to attack uranium mines in a battle against the industry.
Areva said it "valued the stability of the country (and) ... was vigilant, bearing in mind that we have some one thousand workers.
"We are working with the authorities to ensure their safety," a spokesman said.
The French goverment Thursday expressing its desire for Areva to carry out its uranium extraction in Niger "in the interest of all Niger's people" after a Tuareg chief threatened to attack the French company's mines and convoys.
France-Niger relations "are mainly characterised by Areva's presence which contributes significantly to development of the country and whose activities we would like to see continued in the interest of all Niger's people," said Foreign Affairs spokeswoman Pascale Andreani.
The Tuareg Movement of Nigeriens for Justice (MNJ) told the French news weekly Le Nouvel Observateur in an article published Thursday that the movement would step up its attacks.
"We are going to attack the uranium mines, including those of Areva, to stop factories functioning, prevent the exploitation of new quarries, and seize the cargo that is en route to the sea," MNJ leader Rhissa Ag Boula said.
Areva said it "valued the stability of the country (and) ... was vigilant, bearing in mind that we have some one thousand workers.
"We are working with the authorities to ensure their safety," a spokesman said.
The French goverment Thursday expressing its desire for Areva to carry out its uranium extraction in Niger "in the interest of all Niger's people" after a Tuareg chief threatened to attack the French company's mines and convoys.
France-Niger relations "are mainly characterised by Areva's presence which contributes significantly to development of the country and whose activities we would like to see continued in the interest of all Niger's people," said Foreign Affairs spokeswoman Pascale Andreani.
The Tuareg Movement of Nigeriens for Justice (MNJ) told the French news weekly Le Nouvel Observateur in an article published Thursday that the movement would step up its attacks.
"We are going to attack the uranium mines, including those of Areva, to stop factories functioning, prevent the exploitation of new quarries, and seize the cargo that is en route to the sea," MNJ leader Rhissa Ag Boula said.
"You can't exploit uranium without us," he added.
Niger, on the edge of the Sahara, is the world's third largest producer of uranium whose price has soared recently, while Areva is the company's top private employer and has operated two mines there for the past 40 years.
The stakes are particularly high for former colonial power France: three-quarters of the nuclear-powered electricity produced by its state-run company EDF uses uranium imported from Niger.
In April last year, MNJ rebels attacked Areva's biggest uranium project in Niger, demanding better application of the economic aspects of 1995 peace agreements that ended a first Tuareg rebellion.
The MNJ says peace will not return to the north of Niger without better integration of Tuaregs into the army, paramilitary corps and the local mining sector. Since February 2007 it has carried out attacks on military targets in the area.
The MNJ leader Rhissa Ag Boula said this new phase of the Tuareg rebellion would soon see the rebels occupy a dozen urban centres in the uranium-rich north, such as Agadez, Arlit, Iferouane, and In Gall.
President Mamadou Tandja, who refuses to negotiate with the MNJ, in November extended by three months a state of emergency that has reinforced the army's powers in the conflict zone.
The Tuaregs are a grouping of nomadic tribes who have roamed the Sahara for centuries before the countries of the region gained independence from colonial powers.
The stakes are particularly high for former colonial power France: three-quarters of the nuclear-powered electricity produced by its state-run company EDF uses uranium imported from Niger.
In April last year, MNJ rebels attacked Areva's biggest uranium project in Niger, demanding better application of the economic aspects of 1995 peace agreements that ended a first Tuareg rebellion.
The MNJ says peace will not return to the north of Niger without better integration of Tuaregs into the army, paramilitary corps and the local mining sector. Since February 2007 it has carried out attacks on military targets in the area.
The MNJ leader Rhissa Ag Boula said this new phase of the Tuareg rebellion would soon see the rebels occupy a dozen urban centres in the uranium-rich north, such as Agadez, Arlit, Iferouane, and In Gall.
President Mamadou Tandja, who refuses to negotiate with the MNJ, in November extended by three months a state of emergency that has reinforced the army's powers in the conflict zone.
The Tuaregs are a grouping of nomadic tribes who have roamed the Sahara for centuries before the countries of the region gained independence from colonial powers.
Source: Agence France Presse
EUROPEAN UNION: Major projects cancelled because of uncertainty. Green laws and regulation risk energy crisis
Published | 07-Feb-2008
Europe is facing an energy crisis because of green-influenced legislation and regulation, and difficulty in obtaining planning approval for key projects, energy companies warned yesterday.
Europe needs to spend €2tn (£1.5tn) on upgrading power networks in the next 25 years but leading energy companies have cancelled investments in new power plants worth billions of euros because of increased regulatory uncertainty, a senior executive claimed yesterday.
Johannes Teyssen, chief operating officer at E.ON, Germany's biggest energy group, blamed the European commission's plans to make companies pay for all their pollution permits from 2013, huge delays in approving planning applications and confusion among national regulators for the cancellations.
Teyssen, vice-chairman of the World Energy Council (WEC) Europe, said: "We see now every week a new investment project being cancelled across the European Union." He cited at least four multibillion-euro projects to build power plants in Germany and said thousands of kilometres of new power lines were "lying on the table" because of planning delays.
The pan-European industry lobby, Eurelectric, says the European Union will need about 520 gigawatts (GW) of new capacity by 2030. But the WEC, in a report handed to the commission yesterday, said investments had slowed in recent years and Europe was now twice as vulnerable to external shocks as it was in the 1960s. It would be 70% dependent on imports by 2030 without a change in policy.
Europe needs to spend €2tn (£1.5tn) on upgrading power networks in the next 25 years but leading energy companies have cancelled investments in new power plants worth billions of euros because of increased regulatory uncertainty, a senior executive claimed yesterday.
Johannes Teyssen, chief operating officer at E.ON, Germany's biggest energy group, blamed the European commission's plans to make companies pay for all their pollution permits from 2013, huge delays in approving planning applications and confusion among national regulators for the cancellations.
Teyssen, vice-chairman of the World Energy Council (WEC) Europe, said: "We see now every week a new investment project being cancelled across the European Union." He cited at least four multibillion-euro projects to build power plants in Germany and said thousands of kilometres of new power lines were "lying on the table" because of planning delays.
The pan-European industry lobby, Eurelectric, says the European Union will need about 520 gigawatts (GW) of new capacity by 2030. But the WEC, in a report handed to the commission yesterday, said investments had slowed in recent years and Europe was now twice as vulnerable to external shocks as it was in the 1960s. It would be 70% dependent on imports by 2030 without a change in policy.
Teyssen said the commission's plans to scrap free emission permits and move to a full auction system would further blight investment decisions. He also said it took longer to approve planning applications than to build a nuclear power station. "I hardly know of any European Union nation where it's easy to build a high-voltage transmission line or new gas pipeline."
Centrica, owners of British Gas, said delays in planning applications were holding up projects for onshore wind farms and new gas-storage facilities. But, officials said, the group backed commission plans to auction pollution permits, creating greater regulatory clarity and offering incentives to invest in new low-carbon or carbon-free plants.
Teyssen urged the European Union to avoid putting all its eggs into the renewables basket, arguing that they could cause more harm than good if national and cross-border grids were incapable of meeting the growth in their use.
"You need a broader picture; you can't just say green is good," he said.
However, the British government rejected the suggestion and said its energy market was the most competitive and liberalised in the European Union and G7, encouraging investment from firms such as E.ON.
John Hutton, the business secretary, said: "We are legislating to speed up the planning system and to put in place incentives for energy companies to bring forward the investment we need. This will mean a dramatic expansion in renewables, new investment in nuclear power and technologies to clean up how we use fossil fuels."
Companies are also resisting the commission's drive to open the EU energy market to more competition, saying that uncertainty put them off investing in new projects. Eight countries, led by France and Germany, have attacked the central pillar of the commission's liberalisation package. This involves forcing the big continental players to "unbundle", or sell their gas and electricity transmission networks/pipelines to independent operators and allow new players to enter a more competitive market.
The eight, backed by big groups such as E.ON, France's EDF and GDF, and Italy's Eni, have formed a "blocking minority" within the council of ministers. They are proposing instead, in a letter to the EU energy commissioner Andris Piebalgs and MEPs, that national regulators draw up 10-year investment plans that the companies would be obliged to follow.
In the letter, seen by the Guardian, they say the "unbundling" plans are unconstitutional and inappropriate to "guarantee an adequate level of investment in the networks and foster the integration of our national networks".
The Piebalgs plan faces growing internal opposition within the commission itself, with one senior official saying that it would break up big companies capable of competing in global markets and force the European Union to be more dependent on huge foreign players.
Centrica, owners of British Gas, said delays in planning applications were holding up projects for onshore wind farms and new gas-storage facilities. But, officials said, the group backed commission plans to auction pollution permits, creating greater regulatory clarity and offering incentives to invest in new low-carbon or carbon-free plants.
Teyssen urged the European Union to avoid putting all its eggs into the renewables basket, arguing that they could cause more harm than good if national and cross-border grids were incapable of meeting the growth in their use.
"You need a broader picture; you can't just say green is good," he said.
However, the British government rejected the suggestion and said its energy market was the most competitive and liberalised in the European Union and G7, encouraging investment from firms such as E.ON.
John Hutton, the business secretary, said: "We are legislating to speed up the planning system and to put in place incentives for energy companies to bring forward the investment we need. This will mean a dramatic expansion in renewables, new investment in nuclear power and technologies to clean up how we use fossil fuels."
Companies are also resisting the commission's drive to open the EU energy market to more competition, saying that uncertainty put them off investing in new projects. Eight countries, led by France and Germany, have attacked the central pillar of the commission's liberalisation package. This involves forcing the big continental players to "unbundle", or sell their gas and electricity transmission networks/pipelines to independent operators and allow new players to enter a more competitive market.
The eight, backed by big groups such as E.ON, France's EDF and GDF, and Italy's Eni, have formed a "blocking minority" within the council of ministers. They are proposing instead, in a letter to the EU energy commissioner Andris Piebalgs and MEPs, that national regulators draw up 10-year investment plans that the companies would be obliged to follow.
In the letter, seen by the Guardian, they say the "unbundling" plans are unconstitutional and inappropriate to "guarantee an adequate level of investment in the networks and foster the integration of our national networks".
The Piebalgs plan faces growing internal opposition within the commission itself, with one senior official saying that it would break up big companies capable of competing in global markets and force the European Union to be more dependent on huge foreign players.
Source: The Guardian
SPAIN: Iberdrola Climbs in Madrid After Biggest Investor Talks to Electricite de France
Published | 06-Feb-2008
Iberdrola SA, Spain's second-biggest power producer, climbed in Madrid trading after its largest investor said it held talks with Electricite de France SA about that French utility's interest in its Spanish rival.
Iberdrola rose as much as 32 cents, or 3.3 percent, to 10.17 euros a share and traded at 10.03 euros at 10:43 a.m. local time.
Actividades de Construccion y Servicios SA, which controls about 12 percent of Bilbao-based Iberdrola, said in a filing yesterday it wanted to create a ``big Spanish power group in which Actividades de Construccion y Servicios can be a protagonist along with the rest of the partners.'' Talks with Electricite de France about the Iberian energy industry were ``normal conversations'' between power operators and didn't lead to any agreements, Spain's biggest builder said.
``Iberdrola now appears to be the target of a future takeover,'' said Alejandro Varela, an analyst at Madrid-based brokerage Renta 4 who recommends buying the stock.
Iberdrola rose as much as 32 cents, or 3.3 percent, to 10.17 euros a share and traded at 10.03 euros at 10:43 a.m. local time.
Actividades de Construccion y Servicios SA, which controls about 12 percent of Bilbao-based Iberdrola, said in a filing yesterday it wanted to create a ``big Spanish power group in which Actividades de Construccion y Servicios can be a protagonist along with the rest of the partners.'' Talks with Electricite de France about the Iberian energy industry were ``normal conversations'' between power operators and didn't lead to any agreements, Spain's biggest builder said.
``Iberdrola now appears to be the target of a future takeover,'' said Alejandro Varela, an analyst at Madrid-based brokerage Renta 4 who recommends buying the stock.
Since newspaper Cinco Dias first reported Electricite de France 's interest on Jan. 24, the utility's shares have gained 11 percent to boast a market value of about 50 billion euros ($75 billion).Actividades de Construccion y Servicios aims to benefit from its position as the largest shareholder in the country's second and third-biggest power producers to be the kingmaker in an industry that last year attracted bidders from Italy, Germany and Spain to buy the nation's largest power producer, Endesa SA.
Source: Bloomberg | by Kristian Rix
Blogalaxia:Iberdrola fotolog Technorati:Iberdrola Bitacoras:IberdrolaagregaX:Iberdrola
AFRICA: Areva ready to bid for two reactors in South Africa
Published | 29-Jan-2008
A consortium led by French nuclear giant Areva is preparing to bid for two third-generation atomic reactors to be built in South Africa, a spokesman for the group said Tuesday. Areva, construction and communication conglomerate Bouygues and electricity giant EDF have teamed up with South African engineering firm Aveng for the project, with a formal offer to be made to Pretoria at the end of January.
South Africa wants to build new nuclear reactors to meet growing demand for electricity and has also asked US-Japonese Westinghouse to made a bid.
Areva is building two second-generation nuclear reactions near the Koeberg power station near Cape Town.
South Africa wants to build new nuclear reactors to meet growing demand for electricity and has also asked US-Japonese Westinghouse to made a bid.
Areva is building two second-generation nuclear reactions near the Koeberg power station near Cape Town.
President Nicolas Sarkozy is scheduled to pay a visit to South Africa on February 26 and 27.
Areva signed an eight-billion-euro (12-billion-dollar) deal in November to deliver two reactors to China and agreements to develop civilian nuclear power were inked with the United Arab Emirates, Algeria and Libya.
Areva signed an eight-billion-euro (12-billion-dollar) deal in November to deliver two reactors to China and agreements to develop civilian nuclear power were inked with the United Arab Emirates, Algeria and Libya.
Source: United Press International
Blogalaxia:Sarkozy fotolog Technorati:Sarkozy Bitacoras:SarkozyagregaX:Sarkozy
EUROPE: European Union moves to Limit Power of Big Utility Companies [VIDEO]
Published | 24-Sep-2007
The European Commission has adopted draft legislation that would separate power generation from distribution networks. The aim is to restrict the influence of big utility companies. But not everyone is happy.
The idea behind the proposals is to keep large energy providers from exclusive control over the supply of natural gas and electricity to the European bloc.
In part, the initiative is aimed at Russia, which provides around a quarter of Europe's gas, since the proposals would ban foreign firms from owning transmission networks -- unless agreements are reached between the European Union and the companies' home countries.
But the proposals would also force utility companies within the Europea Union -- for instance, Germany's E.on or Electricite de France -- to sell off distribution networks or hand over control to an independent operator. And that has drawn mixed reactions.
Necessary reforms?
The Commission justified the proposals by saying they would boost competition and allow new operators to enter the market.
The president of Germany's Association of Energy Consumers, Aribert Peters, welcomed the initiative, saying in a radio interview that it was the only way to lower prices and to ensure a level playing field.
But both Germany and France would like to see their big utility companies retain more influence and are likely to try to negotiate compromises in the proposed legislation.
The energy spokesman for Germany's governing Christian Democratic Union, Joachim Pfeiffer, said in a radio interview that uncoupling providers from distributors was "a completely wrong path" and that previous liberalizing reforms should be given a chance to take effect.
In part, the initiative is aimed at Russia, which provides around a quarter of Europe's gas, since the proposals would ban foreign firms from owning transmission networks -- unless agreements are reached between the European Union and the companies' home countries.
But the proposals would also force utility companies within the Europea Union -- for instance, Germany's E.on or Electricite de France -- to sell off distribution networks or hand over control to an independent operator. And that has drawn mixed reactions.
Necessary reforms?
The Commission justified the proposals by saying they would boost competition and allow new operators to enter the market.
The president of Germany's Association of Energy Consumers, Aribert Peters, welcomed the initiative, saying in a radio interview that it was the only way to lower prices and to ensure a level playing field.
But both Germany and France would like to see their big utility companies retain more influence and are likely to try to negotiate compromises in the proposed legislation.
The energy spokesman for Germany's governing Christian Democratic Union, Joachim Pfeiffer, said in a radio interview that uncoupling providers from distributors was "a completely wrong path" and that previous liberalizing reforms should be given a chance to take effect.
Via| DW News
EUROPA|proteccionismo|Christian Democratic Union,BAJAENERGY TV,EDF,EON,European Union,France,Germany,protectionist policy,Russia,energyblog
EUROPA|proteccionismo|Christian Democratic Union,BAJAENERGY TV,EDF,EON,European Union,France,Germany,protectionist policy,Russia,energyblog
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