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EdF says net fell 15 percent as mild weather cuts into demand

EdF says net fell 15 percent as mild weather cuts into demand

Electricite de France SA, France's largest energy supplier, said Friday that net income fell 15 percent as a mild summer cut into demand.
Net income for the six months through June slipped to euro3.51 billion (US$4.9 billion) compared with euro4.14 billion in the same period a year earlier, the company said in a statement. Sales were little changed at euro30.3 billion (US$41.3 billion).
The company also confirmed its outlook for the period through 2008. EdF did not disclose what its expectations were.
Mild weather cuts into energy suppliers' earnings because it reduces demand for heating.
"Through the agreement recently signed with the U.S. utility Constellation Energy Group is a new step towards the fulfillment of EdFs ambition to participate in the nuclear renewal on the largest energy market worldwide," said EdF's Chairman and Chief Executive Pierre Gadonneix. In July, Constellation Energy said it formed a joint venture with EdF to explore building nuclear power plants in the U.S. and Canada.
EdF shares were little changed at euro74.69 (US$101.93) in Paris.


Updated : 2021-04-11 03:52 GMT+08:00