Report: EDF's new boss would dump Constellation
EDF Group, parent of Electricite de France and partner of Constellation Energy in an expanded joint venture and proposal to build a third nuclear reactor at Maryland's Calvert Cliffs, has a new boss. Henri Proglio is his name. People have been wondering whether he would take a different approach to EDF's expanded partnership with Constellation, which is under review at the Maryland Public Service Commission.
Now Thibaut Madelin, energy correspondent for Les Echos, is stating as a fact, without offering any evidence, that Proglio wants to dump Constellation.
In a piece about Proglio's appearance before the French economic affairs legislative commitee, Madelin says Proglio "would like... to exit a proposed joint venture with the American Constellation." Lower down in the piece Madelin says this:
Henri Proglio, who would like to make the group's French operations transparent to determine the true cost of nuclear development, seems at any rate ready for strategic change. He wonders about the proposal to buy 50 percent of the nuclear assets of the American Constellation. An exit could be delivered on a plate in coming days with the pending decision of the Maryland public service commission. This would allow the operation under certain conditions. Henri Proglio is free to accept them or not.
Without any on-the-record evidence from Proglio or EDF, I would treat the report cautiously. Still, Les Echos has been ahead of the curve and correct on previous EDF developments.
Comments
I'm still waiting for the flood of American dollars and American engineering that the "obvious and objective merit" this deal has to swarm in offering counter proposals to the EDF deal... but that of course have never materialized.
Anyone seen Warren Buffet recently?
Posted by: MrRational | October 29, 2009 11:36 AM
The French are way ahead of America in regards to energy independence and nuclear power. If the PSC turns down a 3rd merger deal, say hello to Constellation Energy of Delaware and increased rates across the board, and there won't be a damn thing the PSC or O'Malley will be able to do about it. I seriously doubt even Warren Buffet wants any part of this political circus sideshow anymore. He only stepped in in the first place thinking he was gonna get a sweet near bankruptcy deal on CEG. He won't be burned twice by Maryland politicos. Businesses have learned, Maryland is NOT a state to do business in unless you absolutely have to or have strong government ties.
Posted by: Anonymous | October 29, 2009 1:27 PM
I think this development makes it more obvious then ever that re-regulation is the only way that Maryland consumers can budget their utility expenses without feeling they are being ripped off!!
Posted by: ed | October 29, 2009 6:35 PM
(AP) 10/29/09
TALLAHASSEE, Fla. — Democratic heavyweight Bob Butterworth is going to advise Florida Power & Light Co. on its proposal to raise base rates about 30 percent.
The utility's announcement Thursday that it had hired the former Florida attorney general adds another political aspect to the rate case...and a rate hike of similar proportions being sought by Progress Energy Florida.
FPL said it hopes Butterworth will help change negative perceptions about the rate proposal.
Posted by: MrRational | October 29, 2009 8:10 PM
I believe Proglio is playing poker and bluffing: the French want the deal!!!
Posted by: friend | October 29, 2009 8:11 PM
You're being ripped off because there isn't re-regulation??
No, you are now paying market rates because of deregulation. The price caps didn't work and everyone got used to their bill not rising, then wham.
Why is it that all the other consumers in the area are paying similar rates but not whining about it?
Posted by: chesepioc | October 30, 2009 9:45 AM