Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Electricité de France    EDF   FR0010242511

ELECTRICITÉ DE FRANCE (EDF)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Lawmakers call for competition inquiry into SSE/Innogy UK merger

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/04/2017 | 02:54pm CET
An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry

LONDON (Reuters) - British lawmakers called on Monday for a competition inquiry into the proposed merger between SSE and Innogy's UK retail energy businesses.

The cross-party committee of members of Britain's parliament said the deal could reduce competition and affect consumers as together with Centrica's British Gas, the combined company would control more than half of the UK market.

SSE and Innogy said last month they would merge and list their British retail units to better compete with smaller rivals and reap badly-need synergies in a market with thin margins.

The deal, which would give SSE shareholders a stake of about two thirds in the combined entity, is expected to be completed by the first quarter of 2019 at the latest.

The committee called on the Competition and Markets Authority (CMA) to look into a merger that would reduce Britain's Big Six energy companies to five.

"(We) would welcome the confirmation of the CMA that it will look in detail at the potential impacts that this merger could have on the operation of the domestic energy market, and undertake a full investigation if there is any risk of a lessening of competition within the sector," Rachel Reeves, chair of the cross-parliamentary Business, Energy and Industrial Strategy (BEIS) Committee, wrote in a letter to the CMA.

The CMA said it would consider all mergers that meet the legal criteria for an investigation under the Enterprise Act.

An SSE spokesperson said the merger will turn 60 energy suppliers into 59, not five, and ultimately offer better value for customers, adding that it will engage with the CMA and any other interested parties as required.

The so-called Big Six energy companies - British Gas, SSE, Iberdrola's Scottish Power, Innogy's npower, E.ON and EDF Energy - control around 80 percent of the market, compared to around 99 percent a decade ago.

German energy company Innogy's chief executive Peter Terium said last month he was confident British regulators would approve the deal.

(Reporting by Nina Chestney; editing by Alexander Smith)

By Nina Chestney

Stocks mentioned in the article
ChangeLast1st jan.
E.ON 3.78% 8.684 Delayed Quote.-4.16%
IBERDROLA 1.77% 6.104 End-of-day quote.-5.51%
INNOGY SE 3.55% 32.4 Delayed Quote.-0.84%
SCOTTISH AND SOUTHERN ENERGY 1.25% 1251.5 Delayed Quote.-5.19%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ELECTRICITÉ DE FRANCE
02/23ELECTRICITE DE FRANCE : French nuclear watchdog raps EDF over Flamanville failin..
RE
02/23ELECTRICITE DE FRANCE : Westinghouse electric company to provide engineering sup..
AQ
02/22ELECTRICITE DE FRANCE : Weldings at EDF's Nuclear Reactor Don't Meet Quality Spe..
DJ
02/22Centrica to Cut 4,000 Jobs; Sell Stake in UK Nuclear Business -- Update
DJ
02/21ELECTRICITE DE FRANCE : EDF, Westinghouse Electric Spain Win Engineering Service..
DJ
02/21ELECTRICITE DE FRANCE : EDF and Westinghouse Electric Spain are awarded a nuclea..
PU
02/20Off-grid power pioneers pour into West Africa
RE
02/19ELECTRICITE DE FRANCE : French utility EDF says notified of a strike at a nuclea..
RE
02/16Strong earnings help European shares recover from sell-off
RE
02/16France's EDF stock up on strong 2018 outlook and dividend surprise
RE
More news
News from SeekingAlpha
02/20Anadarko, Electricite de France sign long-term LNG supply deal 
02/16Electricite De France SA 2017 Q4 - Results - Earnings Call Slides 
02/16Electricite de France's (ECIFF) CEO Jean-Bernard Levy on Q4 2017 Results - Ea.. 
02/16Electricite de France SA reports Q4 results 
02/05I Was Wrong About KEPCO 
Financials (€)
Sales 2018 68 978 M
EBIT 2018 6 091 M
Net income 2018 1 972 M
Debt 2018 36 994 M
Yield 2018 2,98%
P/E ratio 2018 15,04
P/E ratio 2019 13,23
EV / Sales 2018 0,97x
EV / Sales 2019 0,97x
Capitalization 30 138 M
Chart ELECTRICITÉ DE FRANCE
Duration : Period :
Electricité de France Technical Analysis Chart | EDF | FR0010242511 | 4-Traders
Technical analysis trends ELECTRICITÉ DE FRANCE
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 11,3 €
Spread / Average Target 9,7%
EPS Revisions
Managers
NameTitle
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Girre Senior Executive Vice President-Group Finance
Christophe Salomon Head-Information Systems
Bruno Lafont Independent Director
Jacky Chorin Director
Sector and Competitors
1st jan.Capitalization (M$)
ELECTRICITÉ DE FRANCE1.82%37 052
ENGIE-9.49%38 367
NATIONAL GRID PLC-13.38%35 428
SEMPRA ENERGY-0.26%26 501
ORSTED11.51%26 035
E.ON-4.16%22 644