Energiser Investments Share Discussion Threads

[grupo guitarlumber] 31/7/2017 03:54

1443/5000
Nord Stream 2 French Engie could suspend funding in the event of US sanctions

The French group Engie could "not continue to finance" the project Nord Stream 2 gas pipeline between Russia and Germany if the United States passed the law introducing new sanctions against Moscow, said a leader of the French group yesterday. "We may not continue to fund this project so as not to be subject to sanctions," said Pierre Chareyre, in charge of Engie's LNG business, in a conference call.

However, he said, "we are not yet in this situation," adding that, as things stand, "the law on sanctions is not retroactive, so only future transfers of funds would be It was definitively adopted. This gas pipeline project is being developed by the Russian giant Gazprom and five European groups including Engie.

They pledged to finance 10% of the project cost, estimated at 9.5 billion euros (11.15 billion dollars). The new US law would give President Trump the ability to sanction companies that work on pipelines from Russia, for example limiting their access to US banks or excluding them from US government procurement.

This provision could therefore theoretically penalize the European groups involved in the project.

[sarkasm] 29/7/2017 08:05

PARIS (ENGI.FR) - French energy giant Engie (ENGI.FR) announced Friday that it has won, via its subsidiaries Engie Green, La Compagnie du Vent, CNR and Solairedirect, ten photovoltaic projects in France The framework of the second session of solar calls for tender organized by the Commission for the regulation of energy.


These projects represent 94.59 megawatts (MW) of installed capacity on the 500 MW allocated, said Engie in a press release.


"The selected projects have all been developed in consultation with local stakeholders and will use local providers as a priority and will be located only on non-agricultural land and for the most part degraded," the group added, 2 gigawatts (GW) of solar capacity installed in 2021, compared to more than 600 MW currently.

[grupo guitarlumber] 28/7/2017 08:00

Engie (ENGI.FR) said Friday target the mid-range of its annual EBITDA target for 2017, while the recurring net income from continuing operations By the group rose slightly in the first half, driven by improved financial results.


Group net income for the first six months of the year reached € 1.3 billion, an increase of 3.5% compared to the first half of 2016. Recurring net income excluding items Exceptional, stood at 1.5 billion euros, stable over one year, including the 103 million euros of exploration and production activities, which are currently being sold to Neptune Energy. Recurring net income Group share of continuing operations amounted to € 1.4 billion, an increase of 1.1% compared to June 30, 2016, driven in particular by the improvement in recurring financial income.


Recurring operating income adjusted for allocations, share-based payments and non-recurring share of income of equity affiliates (EBITDA) amounted to € 5 billion, down 0.1% on a reported basis But organic growth of 4% due to the effects of the Lean 2018 performance program, the sustained performance of activities designated as the Group's growth drivers (excluding in particular regulated and trading activities), asset servicing In Latin America and the performance of thermal production activities in Europe and Australia.


Over the period, Engie's sales increased by 1.6% to € 33.1 billion, corresponding to organic growth of 2.6%.


According to a consensus reached by FactSet, analysts expected on average revenues of 34.8 billion euros and an EBITDA of 4.86 billion euros in the first half.


The net debt to EBITDA ratio was 2.2 times, meeting the target of a ratio of 2.5 or less provided by the group. Net debt amounted to € 22.7 billion, down € 2.1 billion from the end of 2016.


"The first half of 2017 was marked by strong sales momentum and strong performance by our growth engines - low-carbon (renewable and thermal contracted) electricity generation, infrastructure and integrated solutions for our customers - Today represent 90% of our EBITDA.These strong and encouraging results, generated by the commitment of our teams around the world, reflect the advance made at all levels on our transformation plan to 3 years. To confirm the annual objectives set for 2017 and the Group's strategic choices to ensure its growth over the next few years, "said Isabelle Kocher, Managing Director, quoted in a statement.


As a result, Engie anticipates this year a recurring net profit of between 2.4 and 2.6 billion euros, now specifying to wait until the middle of this range, while maintaining its debt ratio to 2.5 times The Ebitda to the maximum.




-Guillaume Bayre, Agefi-Dow Jones; 01 41 27 47 93; [e-mail] ed: ECH




GDF SUEZ FINANCIAL REPORTS:







(END) Dow Jones Newswires


July 28, 2017 02:28 ET (06:28 GMT)

[grupo guitarlumber] 27/7/2017 17:27

27/07/2017 | 10:33

With 3 new investments from ENGIE Energy Growers in Latin America, India and Cambodia, nearly 2 million people will have access to clean and sustainable energy by 2020.

On this occasion, Paulo Almirante, Deputy Managing Director, in charge of Environmental and Corporate Responsibility and Chairman of ENGIE Energy Rallyers, said: "Through its social impact investment fund Energy Rallyers, ENGIE Is making progress in its commitment to fight against fuel poverty. These recent investments are perfectly in line with the mission entrusted to Rassembleurs d'Energies to generate a strong impact among the populations by supporting innovative local entrepreneurs and mobilizing new investors to meet the immense needs of the sector. They will contribute to ENGIE's goal of enabling 20 million people around the world to have access to sustainable and decentralized energy by 2020 ".

In Latin America, ENGIE Rassembleurs d'Energies is expanding its portfolio by investing in KINGO. This company, specializing in access to clean energy in Latin America and Africa, offers solutions for solar individual electrification to non-networked populations in Guatemala. To date, thanks to a network of 700 local agents, KINGO equips more than 170,000 beneficiaries of decentralized photovoltaic installations using "Pay as you go" technology. KINGO accompanies its customers on the one hand by ensuring the maintenance of the deployed systems and on the other hand by following the evolution of their needs over the duration. The joint investment with the development banks Proparco and FMO and with other local impact investors will enable the company to provide access to electricity to more than 1.5 million people The end of the decade.

In India, ENGIE Energy Rallyers accompanies Mera Gao Power (MGP) in a new fundraiser. MGP offers micro solar networks to rural non-connected people in Uttar Pradesh, in the north of the country. After an initial investment made in 2015, which enabled MGP to electrify more than 1,800 villages and serve nearly 115,000 beneficiaries, Rassembleurs d'Energies concluded a second investment jointly with the European fund ElectriFi and the impact investor insitor. This round of funding will enable the company to accelerate its deployment over the next two years and to serve more than 700,000 beneficiaries by 2020.

In Cambodia, ENGIE Rassembleurs d'Energies participates in the first round of financing of ATEC, a company that produces and distributes bio-digesters. The company, created by 2 Australian NGOs (Engineers Without Borders and Live and Learn), has designed and developed flood-friendly bio-digesters for rural populations. The objective is to provide them with clean cooking solutions and biofertilizers while fighting against deforestation, one of the main challenges of the region. This joint investment with 2 Australian Impact Investment Funds and the Ensemble Foundation will enable ATEC to serve more than 50,000 beneficiaries in Cambodia and the region by 2020. This is the first investment by ENGIE, Energies in South East Asia.

The amounts invested in these three projects come from the allocation of ENGIE, increased to 50 million euros in 2016, and the FCPE (Joint Venture Fund) of ENGIE Energies Rassembleurs d'Energies, to which more than 18,000 unitholders Have contributed, thus giving meaning to their savings in line with their professions.

ENGIE Rassembleurs d'Energies obtained the Platinium rating from its Global Impact Investing Rating System (GIIRS) on its Economic Impact Model. This note welcomes both the quality of its governance and its own reporting, and above all the reliability and transparency of the social and environmental reporting of the companies in its portfolio. This rating, obtained only by 20% of the companies evaluated by GIIRS, attests to Rassembleurs d'Energies' attention to the assessment of impacts and will allow it to continue to progress in calibrating its peers.

About "ENGIE Energy Gatherers"

ENGIE Energy Gatherers is the ENGIE impact investment fund that invests in sustainable energy access projects for precarious populations. This fund is intended to invest in socially-oriented projects that are economically viable and supported by social entrepreneurs. The fund manages a portfolio of 18 active companies on 4 continents that employ 150

[grupo guitarlumber] 20/7/2017 13:09

The decision by the State Council on Wednesday to repeal the decree of May 2013 laying down the procedure for fixing gas tariffs, which it considers contrary to European law, paves the way for The end of regulated prices on the French market, says Bryan Garnier. This will not happen in the immediate future however, says the consulting firm, because some elements of this regulation stem from a law of 2015, which can only be annulled by a decree of the government. Bryan Garnier points out that Engie (ENGI.FR) remains the main player with a market share of 76%, but the contribution of this segment to its operating profit is marginal, between 1.5% and 2% of the total EBITDA group. Beyond the distribution of gas, the analyst believes that the decision of the Council of State could inspire the gradual stoppage of regulated tariffs for electricity, a segment where Engie is experiencing rapid growth although it remains far from EDF, with about 9% of the market, compared with 85% for the incumbent. Bryan Garnier confirms his purchase advice on Engie, aiming at 15 euros per share. The share price 13.61 euros Thursday morning, little changed (+ 0.07%). ([e-mail]) ed: ECH

[grupo guitarlumber] 19/7/2017 22:06

Engie revisits the decision of the Council of State to cancel the regulated tariffs for the sale of natural gas, "which until now had been the basis for a tariff fixed by the State and Applicable throughout the national territory to the 5.4 million private and professional customers (craftsmen, tradesmen, etc.) ".

The Council of State considered that the scheme was contrary to European law, but did not call into question the contracts concluded.

Engie takes note of this decision, which is addressed to the State concerned by the annulment of the decree. The French energy specialist reminds us: "It is incumbent on the Government to draw the consequences of this decision as soon as possible by legislative means taking into account the interests of our customers".

According to Engie, "the regulated tariff fixed by the State was considered as a guarantee by many consumers who chose it voluntarily, a sufficiently long transition period should be opened to allow them to apprehend in the best conditions the offers Naturally, Engie will continue to feed its customers as long as they want. "

[sarkasm] 19/7/2017 16:23

525/5000
Regulated tariffs, as currently applied in France by Engie (formerly GDF Suez) for more than 5 million households, are contrary to European law, said Wednesday the Council of State, thus paving the way for their abolition.


The highest administrative court has decided to annul a decree dating from 2013 setting out the procedure for fixing regulated gas tariffs, which had been attacked by competing suppliers of Engie.




(END) Dow Jones Newswires


July 19, 2017 08:48 ET (12:48 GMT)

[the_alchemist] 16/7/2017 10:37

Yes very interesting and positive pod cast with Dominic on VOX

[spot1034] 11/7/2017 21:27

I believe the intention is for other investors to join the party as the business progresses, so not all the profits will necessarily come to ENGI - however it still looks like it has real potential.

In the meantime this is only the first of several possible investments by the company and news of others could come at any time. I bought in the other day - the presence of Wicks and Malde gives me reason to think that this share could do very well.

[market master] 11/7/2017 12:29

ENGI - TEN BAGGER!!!






On 13th June 2017, Energiser Investments announced it’s first investment, into Micro Self Storage.

“Traditionally, self-storage facilities operate in the 40,000 sq ft upwards range and are positioned on the edge of large towns and cities, providing a self-storage service to a large catchment area. Micro Self Store will focus on micro facilities of 10,000 to 35,000 sq ft within dense urban centres such as London and on the edge of smaller towns where there is low or no competition from large operators. With the dramatic rise in the cost of residential space, the directors of Energiser believe there is strong demand for convenient, readily accessible and affordable flexible storage solutions for people who want to “self-store next door.”
Well run self storagecompanies generate a lot of cash and the margins are very high. One of the major players, in the UK, is Big Yellow Storage. Their recent final results, for the year ended 31st March 2017 showed their EBITDA margin was 68.5% and occupancy rates were around 78%.

We can expect similar margins in Micro Self Storage as it will be, “Technology driven, based on methods and processes perfected in the mature USA self-storage market. This will include digitised access to self-storage units and lockers, remote facility monitoring, and a focus on targeted digital marketing to drive sales. Digitisation will maximise customer experience and minimise the costs of operating a network of micro facilities.”
Energiser will invest up to £0.6m to launch the platform and open the first facility. The objective is to grow a network of more than 20 facilities in the next three to five years.

Dominic, the CEO made a comparison to the Gym Group, who operate smaller gyms and are more local. They have around 80 gyms and are doing very well.
Performing some back of the envelope maths, if Energiser do manage to open 20 micro self storage units, with an average rental space of 15,000 square feet, at average occupancy level of 75% and rates at around £30 peer square foot. This is the figures you get:

15,000 square feet x 75% occupancy = 11,250 square feet.
11,250 x 20 storage units = 225,000 square feet of occupied space.
225,000 = £30 per square foot rental = £6,750,000 revenue per annum.
At 50% EDITDA margin = £3,375,000.
If you put this on a price earning ratio of 10 = £33,750,000.
From where Engergiser is valued today, £2.32m, if they achieve the minimum of 20 micro self storge units, you could reasonably argue that, this could be a 10 bagger investment.

2. Management

Energiser Investments have an impressive management team (who hold a fair chunk of shares) as I mentioned in my previous blog post and now they’ve added to that list by bringing Paul Fahey into the fold.
Paul has founded and grown a number of successful self-storage businesses over the last 15 years. He sold Big Storage to a large listed UK operator in 2015 and continues to oversee Flexi Space (based in the north of England) and Easybox (seven facilities in Italy).
He is a past President of the Federation of European Self Storage Associations (FEDESSA), is past Chairman and a current Director of the UK Self Storage Association, and is Chairman of Self Storage Performance Management International, a specialist funding and operations adviser to self-storage operators.
Chief Executive, Dominic White, commented: “we’ve been looking at the traditional self-storage sector for some time, and have recognised the growth potential in this new sub-sector of the traditional market: micro self-storage. We’re excited to be one of the first investors in this market. With the benefit of Paul’s experience, the new platform’s management will implement international self-storage best-practice operations and highly digitised processes from the start.”
Paul Fahey commented: “we expect this to be a fast growing segment within the wider self-storage category. With Energiser as the platform’s cornerstone investor and the new management team’s sector knowledge and operating experience, we expect to see the business grow rapidly”.

3. Market Cap

As I mentioned in reason 1 above, the share price reacted negatively to Energiser’s first investment. This, I believe, was not due to the investment itself but more because of the the time frame of the investment. A lot of money invested on AIM is by traders who are notoriously impatient and are simply not prepared to wait longer than a month, in an attempt, to see a return on their money.
Energiser stated, “The funding will be used to immediately launch Micro Self Store and open a micro self-storage facility in the first half of the next financial year”.


If they do what they say they are going to do, then at a £2.32m market cap I see this as a great investment opportunity and the management have plenty of skin in the game to suggest, they also believe this to be the case.

[the grumpy old men] 10/7/2017 12:09

Engie talks about its half-year results with "a lot of confidence", said Monday its director general, Isabelle Kocher.

Engie confirmed in May its forecast of recurring net earnings group share of between 2.4 and 2.6 billion euros in 2017, which is based on an EBITDA estimate of 10.7 to 11.3 billion. These figures are comparable to 2.2 and 10.1 billion for 2016 as adjusted for disposals and exchange rates.

The producer and supplier of gas and electricity, also very active in energy services, will publish its half-yearly results on 28 July before the stock market.

"We are approaching our results semi-annually with great confidence," Isabelle Kocher told a meeting with reporters.

"The jobs we have chosen are proving to be the professions that are actually demanded by our customers and their growth is real," she added.

"The momentum is very good from a commercial point of view ... I am extremely confident because everything I've seen since we started (our strategic plan), and crescendo, is that the We have chosen (...) have a really considerable potential, "said the general manager of Engie.

As part of its 2016-2018 plan, the group wants to invest in activities that emit little CO2, refocus on networks and propose new integrated offers, bringing the share of regulated or "contracted" activities to over 85%. Its EBITDA (against 75% at the end of 2016) and reducing its exposure to raw materials and energy prices.

In June, Engie announced the acquisition of a 40% stake in Tabreed, the leading air-conditioning company in the Gulf countries, of which it became the second largest shareholder, for approximately € 700 million.

Its plan also includes a program of disposals of 15 billion euros, already realized or committed to 70%.

(Benjamin Mallet, edited by Jean-Michel Bélot)

[the grumpy old men] 08/7/2017 11:56

Engie’s North Sea Oil & Gas Field Back Online After Gas Leak
By Tsvetana Paraskova - Jul 07, 2017, 4:34 PM CDT North Sea

The Gjøa platform in the North Sea off the Norwegian coast is back in production after a gas leak shut it down on June 21, the operator of the oil and gas field, ENGIE E&P, said in a statement on Friday.

Gjøa will gradually increase production back to its normal level shortly after start-up, said ENGIE, which holds 30 percent in the field.

On June 22, ENGIE said that late on the previous day a condensate leak occurred at the Gjøa platform. The situation quickly came under control, and no injuries occurred. The condensate leak was stopped, no leakages to sea took place, and production remains shut down, the company said back then.

In today’s statement, ENGIE updated on the direct cause of the leak—a crack in a weld of a ½" pipe associated with a condensate pump.

The company’s inspections have revealed welding deficiencies in other condensate pumps, and ENGIE said that these malfunctions have now been rectified.

A company internal investigation and the Norwegian Petroleum Safety Authorities are investigating the leakage incident, ENGIE said.

Daily oil and gas production of Gjøa and Vega is around 30,000 barrels of oil.

Gjøa is Engie E&P’s first production operatorship on the Norwegian Continental Shelf. Apart from ENGIE E&P Norge’s 30-percent interest in the field, the other partners are A/S Norske Shell with 12 percent, DEA Norge AS with 8 percent, Petoro AS with 30 percent, and Wintershall Norge AS with 20 percent.

The Gjøa field was discovered in 1989, and ENGIE E&P acquired a 30 percent interest in it in 2003. The Gjøa gas reservoir sits on top of a thin oil rim, and contains an estimated 40 billion cubic meters of gas reserves.

The field was developed through a joint operatorship with Statoil, and production started in November 2010.

By Tsvetana Paraskova for Oilprice.com

[market master] 04/7/2017 12:11

Looks like some interest returning, hopefully the share price will start to rise!

[grupo guitarlumber] 01/7/2017 15:28

A Shrinking Spread Shows Gas Market Is Far From Over the Glut
By Patrick Martin
1 July 2017, 11:01 CEST

August and September futures contracts close to being even
Narrowing spread shows persisting concern over gas surplus

Traders aren’t convinced this summer’s heat will be enough to burn away the nation’s shale gas glut.

The spread between natural gas for August and September delivery is close to zero, odd considering gas demand typically rises in August as people are blasting air conditioners, Bob Yawger, director of the futures division at Mizuho Securities USA in New York, said by phone. The last time these two contracts traded at parity was more than a year ago.

The narrowing spread underscores how stubborn the glut of U.S. natural gas has become -- that not even summer’s burn is enough to wipe it out. While prices are lower, America’s shale is still booming, with production forecast by the U.S. government to extend a record in the Marcellus, the country’s biggest gas play.

“There is so much gas out there that, despite the fact that you have utility demand through the roof, you still can’t draw down on natural gas storage,” Yawger said. “It’s up to you whether you want to run with it or avoid it or not -- or just deny that thing ever existed. But the market is telling you there is weakness where it may not otherwise be so obvious.”

Click here to read more on U.S. gas capping its worst second quarter since 2013.

The latest weather forecasts aren’t doing the market any favors either. Temperatures are expected to be normal from east Texas to the Northeast through July 14, according to Commodity Weather Group LLC. That means people won’t be using as much power to cool off, said John Kilduff, partner at Again Capital LLC in New York.

Natural gas for August delivery fell 0.7 cent on the cooler weather outlook to settle at $3.035 per million British thermal units on the New York Mercantile Exchange on Friday. Futures were up 3.6 percent in the seven days ended June 30, the most in seven weeks.

Before it's here, it's on the Bloomberg Terminal.

[waldron] 23/6/2017 15:58

23/06/2017 | 4:36 p.m.

Paris (awp / afp) - Engie wants to even more internationalize its energy services activities to professionals and counts on this segment to significantly increase its margins by the end of 2018, said Friday its general director Isabelle Kocher.

Currently, Engie makes half of its 13.3 billion euros in turnover in services to professionals in France, and it has identified a group of countries in which it wants to become "a leader, Detailed in a meeting with the press.

"We have great ambitions (...) It is a huge growth space that opens up", in the management of infrastructures and buildings, said Mrs Kocher.

In these less capital-intensive activities, the group also wants to increase its margins by 50% by 2018, after regular growth of 8% per year in its current operating income over the last six years, said Kocher.

Among the promising countries targeted by Engie are Australia, New Zealand, the United States, Brazil and Mexico, which would complement those in which the Group believes it already has a leading position (France, Belgium, Italy, Chile , The United Kingdom, etc.).

This development will be carried out by the four specialized entities of the group: Cofely (energy services), Ineo (electrical installations), Axima (cold and air) and Endel (industrial maintenance).

To develop, Engie wants to duplicate the strategy it uses since the services became, two years ago, a major axis of its plan to adapt to the energy transition, with a mix of targeted acquisitions and development commercial.

For example, Engie has recently acquired the British renovation company Keepmoat Regeneration or the US company Ecova, Opterra or GreenCharge Networks.

These operations "are always targeted: they are operations that are meant to bring us new geographies, more density in a geography, or a particular technology," detailed Mr. Kocher.

In total, the group plans to realize 2 billion euros of acquisitions by the end of 2018, the bulk of which in services.

The sector is driven by regulations that also compel communities and companies to reduce their energy consumption, but also by the development of digital technology that allows groups like Engie, but also its competitors EDF, Vinci or Bouygues, Broaden the range of solutions they can offer, in lighting, security, mobility, etc.

afp / al

[waldron] 21/6/2017 14:34

21/06/2017 | 1:08 p.m.

Bryan Garnier confirmed his purchase recommendation and his target of 15 euros on Engie. The broker has kept the stock in its list of preferred stocks after the investors meeting devoted to its Customer Solutions business. The consulting firm emphasizes that Engie's B2B activities enable the Group to differentiate itself positively from its competitors.

[waldron] 21/6/2017 14:28

21/06/2017 | 11:04

Oddo has confirmed its purchase recommendation and its objective of 15 euros on Engie after the workshop devoted by the group to its activity Customer Solutions. The broker points out that, as part of its transformation plan, Engie has classified this activity as strategic so that the group has allocated about one third (4.8 billion euros, including 2 billion mergers and acquisitions) Investment program of 15 billion euros.

The engineering firm also indicated that Engie's chief financial officer gave an overview of the transformation plan for the 2015-2018 group. This one is ahead of all its objectives.

The broker considers Engie as one of the safest investments from a macroeconomic point of view, with a reasonable price and an attractive option on CO2 prices and mergers and acquisitions in Europe.

[waldron] 16/6/2017 23:24

Given the configuration of the stock, we can anticipate the breakdown of this zone of resistance with the key a new potential for rise.
We can position ourselves to buy to aim the 15 €.
Synthesis

The company presents an attractive fundamental situation for short-term investment.


Strong points

The company benefits from attractive valuation levels with a relatively low EV / CA ratio compared to other listed companies in the world.
The company is part of the yield values ​​with a relatively large expected dividend.
Analysts are positive about the stock. The average consensus recommends buying or overweighting the value.


Weak points

Prices are approaching a strong long-term resistance in weekly data, located around 15.06 EUR.
Technically, prices are currently approaching a strong medium-term resistance, located around 14.03 EUR.
The group is among the companies with the lowest growth prospects, according to analysts' estimates.
The company has a tight financial debt position and does not have significant investment margins.
The group's publications have often disappointed in the past, with relatively large negative deviations from expectations.
The trend in turnover over the past year is clearly downward; Sales forecasts have been regularly reviewed by analysts.

[waldron] 15/6/2017 11:55

Energy: competition is still gaining ground in France (regulator)
Engie (EU: ENGI)
Intraday stock chart

Today: Thursday 15 June 2017
More Engie Stock Charts

Regulated gas and electricity tariffs continued to lose ground in the first quarter in France, nearly ten years after the sector was fully opened to competition, the Energy Regulatory Commission said on Thursday.


Among private individuals, "the number of sites in market offer continues to increase at a high rate," CRE said in its quarterly retail market observatory, although the margin of progression remains significant.


In electricity, 318,000 additional residential consumers left EDF's regulated tariffs during the first three months of the year.


This brings the number of sites in market offers (ie at free prices), which are generally cheaper, to almost $ 4.88 million out of $ 32.1 million (15.1%). Almost all of them (4.85 million) opted for an alternative supplier to the incumbent.


In gas, the opening of the market is more advanced. Almost half of the sites (5.27 million) out of 10.6 million had chosen a market offer at the end of March, which represents an additional 217,000 customers over three months.


Among these sites, 2.56 million had opted for an alternative supplier (25% of market share) to the French giant Engie (formerly GDF Suez), which offers both regulated tariffs and market prices.


For professional customers (businesses, businesses, etc.), the opening to competition also increased after a "relatively stable" half-year in 2016, the energy gendarme pointed out.


In electricity, about one third of the 5 million sites were in commercial offer, a net increase of 100,000 sites to reach 1.65 million. Some 18.6% of the total were in EDF's competitors.


In gas, 88.7% of the 663,000 sites had diverted from regulated tariffs at the end of March, of which 265,000 (39.9%) were from alternative suppliers who continue to gain market share.


For non-residential customers, regulated tariffs have been abolished for those with subscribed electrical power greater than 36 kVA or gas consumption in excess of 30 megawatt hours (MWh) per year in a market open to competition for all consumers since the 1 July 2007.




(ENG) Dow Jones Newswires


June 15, 2017 06:09 ET (10:09 GMT)