A new electricity tariff regulation in France would be neutral for French state-controlled power giant Electricite de France SA (EDF.FR) if the price is set at EUR42 per megawatt hour, EDF's Chief Financial Officer Thomas Piquemal said Wednesday in an interview with Dow Jones Newswires.
A new electricity tariff regulation in
France
would
be neutral for French state-controlled power giant Electricite de France SA
(EDF.FR) if the price is set at EUR42 per megawatt hour, EDF's Chief Financial
Officer Thomas Piquemal said Wednesday in an interview with Dow Jones
Newswires.
France
's
parliament is due to consider the Nouvelle Organisation du Marche de
l'Electricite, or
NOME
,
bill, beginning next month. It would force EDF to sell part of its production
to competitors at set prices.
"The price of EUR42/MWh requested by (EDF's Chairman and Chief Executive)
Henri Proglio would be neutral for EDF's revenues compared to the existing
situation including TarTAM," Piquemal said, referring to the regulated
tariff for industrial-power clients.
"We would not make an additional profit at that price compared to the
current situation," he said.
The French government has put forward legislation to address European Union
antitrust concerns by giving EDF's competitors access to the relatively
inexpensive power it generates from its fleet of 58 nuclear reactors.
NOME
, set to be introduced in the French parliament in
June, is meant to allow EDF's competitors to enter the French power
distribution market and to build their own electricity production.
EDF's Proglio confirmed Tuesday during EDF's annual meeting that he had
requested a price of EUR42/MWh for competitors to get that access, stressing
that EDF can't sell its power to competitors below production costs.
"Would the price be below EUR42/MWh? That would mean lower revenues but at
EUR42/MWh, the impact of the
NOME
law
on our results would be neutral, compared to the current situation,"
Piquemal said.
"EDF currently sells directly or indirectly around 80TWh of power at
around EUR42/MWh as part of the TarTAM industrial tariffs scheme," Piquemal
noted, adding that "this volume would be included in the 100 terawatt
hours contemplated by the draft
NOME
law."
Currently, EDF sells 80 terawatt hours of power to industrial customers under a
state-regulated tariff system called the Transitory Regulated Market Balancing
Price, or TarTAM. The special arrangement was designed to allow companies that
use a lot of power but that had opted to buy it on the free market to come back
into the regulated system.
"The EUR42/MWh price that EDF requests is consistent with the price set
under the TarTAM scheme," Piquemal said.
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