French utility EDF has detailed the nature of the changes to its structure and products that will result from its change of status to limited liability company, or Société Anonyme. It can now increase its capital to fund development and compete against its rivals on an equal footing, it says.
The French parliamentary act of August 2004, which reduced the degree of public ownership in EDF, also stipulated that it must, during early 2005, reorganise the country’s transmission system operator into an EDF subsidiary called EDF Transport. Management of the grid will now fall to EDF division Réseau de Distribution and EDF-Gaz de France Distribution, the operator jointly held by EDF and Gaz de France.
EDF will now also be able to offer its customers multi-energy products and related services.
The French state will continue tol hold at least 70% of EDF shares and voting rights.
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