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ELECTRICITÉ DE FRANCE

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Real-time Euronext Paris  -  09:37 2022-08-15 am EDT
11.92 EUR   +0.13%
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French energy companies call for 'immediately' limiting energy use

06/25/2022 | 06:34pm EDT
FILE PHOTO: A couple of stork stands in a nest on the top of a pylon of high-tension electricity power lines in Bouee

PARIS (Reuters) - Individual consumers and companies need to "immediately" limit their energy consumption in order to be better equipped this winter to deal with a looming energy crisis, the heads of French energy giants Engie, EDF and TotalEnergies said in the French weekly paper Journal du Dimanche on Sunday.

"We need to collectively work to reduce our consumption in order to regain a margin of maneuver," the companies said in an open letter, citing sharp declines in Russian gas shipments as well as limited European electricity production due to maintenance issues.

"Taking action as soon as this summer will allow us to be better prepared at the start of next winter, notably for preserving our gas reserves," they said.

(Reporting by Benjamin Mallet and Mimosa Spencer; Editing by Sandra Maler)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 0.13% 11.92 Real-time Quote.20.54%
ENGIE -0.65% 12.818 Real-time Quote.-0.88%
TOTALENERGIES SE -3.66% 49.99 Real-time Quote.16.36%
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Financials
Sales 2022 86 343 M 88 529 M 88 529 M
Net income 2022 -10 856 M -11 131 M -11 131 M
Net Debt 2022 70 473 M 72 257 M 72 257 M
P/E ratio 2022 -3,69x
Yield 2022 -
Capitalization 44 474 M 45 600 M 45 600 M
EV / Sales 2022 1,33x
EV / Sales 2023 1,24x
Nbr of Employees 163 423
Free-Float 18,4%
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 11,91 €
Average target price 11,32 €
Spread / Average Target -4,94%
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Managers and Directors
Jean-Bernard Levy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Laurence Parisot Independent Director
Claire Pédini Independent Director
Bruno Crémel Independent Director
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