Electricity Suppliers Swap Assets
Utility Exchange reported yesterday that EDF was considering selling another 20% of British Energy. EDF is playing down these reports but has not ruled them out and now timesonline.co.uk reports that EDF is close to swapping some of its assets with E.ON.
The French owned EDF is looking to cut 37 billion euros from its debt as it moves forward with its plan to build the next generation of British nuclear reactors.
The talks with E.ON involve the German energy provider buying a stake in French nuclear power stations and in exchange EDF would gain access to German coal-fired power stations.
It looks like the two energy companies are trying to appease the European competitions regulator as there are worries that they are becoming too powerful within their own domestic markets.
Source and further details: http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article6843584.ece