Electricite de France SA and GDF Suez SA, the country’s biggest gas and power utilities, are vying to develop two 500-megawatt wind projects off northwestern France in a push to expand clean-energy output.
France should allow drillers to use hydraulic fracturing to estimate the size of the nation’s shale oil and gas reserves, lawmakers said in a cross-party report.
GDF Suez SA, France’s former natural-gas monopoly, reported nine-month profit fell 6.5 percent because of lower power prices in Europe and maintenance halts at power stations in Belgium.
Henri Proglio and Gerard Mestrallet, the Frenchmen who run the world’s biggest utilities, fought for a decade to win water contracts around the world. Now, the rivalry goes nuclear.
Suez Environnement is “sheltered” from a hostile takeover offer even though a shareholder pact will expire in less than two months, Chairman Gerard Mestrallet told investors today.
GDF Suez SA, the biggest buyer of gas in Europe, is considering a bid for Repsol SA’s liquefied natural gas assets, according to Chief Executive Officer Gerard Mestrallet.
GDF Suez SA, owner of Europe’s biggest natural gas network, is considering exploring for shale oil and gas in Germany, Poland, the U.K. and in Latin America.
The heads of 10 of Europe’s biggest utilities called on the European Union to overhaul its energy and climate policies and curb “Robin Hood” subsidies that sap the region’s competitiveness.
GDF Suez SA Chief Executive Officer Gerard Mestrallet says the French utility’s dividend is a sacred cow -- even at a world-leading 10.2 percent yield. Options traders don’t believe him.
Europe is driving its largest power and natural-gas utility off the continent.
"The risks of a hostile bid in this sector are quite limited."
- Gerard Mestrallet on May 23, 2013