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Utilities Down As French Electricity Price Caps Weigh On EDF -- Utilities Roundup

01/14/2022 | 05:22pm EDT

Shares of power producers fell slightly amid concerns about electricity price caps in Europe.

A decision by the French government to force electricity giant Électricité de France to bear the brunt of higher energy prices slammed the company's shares, making the state-controlled utility a high-profile victim of Europe's energy crisis.

The utility said late Thursday that the French government's new measures to curb the rise of electricity bills will have an estimated impact of up to $9.62 billion on the company, and withdrew its earnings guidance for the year.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-14-22 1721ET

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE -0.31% 8.344 Real-time Quote.-15.27%
ON SEMICONDUCTOR CORPORATION 0.86% 56.03 Delayed Quote.-17.80%
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