EDF is waiting for clarity before launching a partial Edison sale

Claude Laruelle, the finance chief of EDF, said that the utility has not given up on its plans to'sell a part of edison, the Italian subsidiary, but it would wait until there was more clarity before launching this process. Edison faces uncertainty regarding gas supplies, as it imports 45% of its supply from Qatar. However, Laruelle said that the company was able to continue to provide gas despite these disruptions. This period of uncertainty has made it difficult to predict the future. This lack of 'visibility', especially regarding the spread between the gas purchases and sales -- and thus?its trading margins and processing margins - makes it difficult for a company like Edison to open its capital. He said that EDF was continuing to work on the preliminary stages of a sale. "We are reviewing business plans in light of possible tenders that the company may win, especially in renewable energy...?But we haven't formally launched the procedure. Laruelle stated that they would do so once we had more visibility. In May, two sources with knowledge of the sale said that EDF was delaying plans to sell a share in Edison until next year. Edison lowered its 'full-year earning guidance on Thursday for the second time this year, as disruptions in Qatari gas supply and weak hydroelectric production impacted first-half results. Forrest Crellin, Joe Bavier and Joe Bavier edited the article.

(source: Reuters)