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[waldron] 18/11/2011 08:27

GDF SUEZ ADDED TO MOST PREFERRED LIST AT UBS

[waldron] 17/11/2011 18:28

Source: stockopedia

Oil-Gas Spreads Rocketing Again: Careful with the European Gas Majors
Thursday, Nov 17 2011 by Dlacalle 0 comments 2. Most analysts keep in their numbers for 2012 and 2013 a massive improvement in profitability for those companies that buy long term contracted gas from Russia and Norway. The thesis on ENI, E.On, GDF-Suez, Gas Natural and others is simple. These companies have been losing money on their long term contracts due to an agressive take-or-pay obligation. Basically these groups, in a strive to maintain giant market share and profit from their exposure to retail, reached agreements with the major suppliers of gas in conditions that looked very attractive ONLY if gas prices rose and demand continued to soar. As such, major suppliers locked in large take-or-pay contracts with oil-price-linked formulas based on the "conservative" bet that gas demand in Europe would rise by 2-2.3% pa from 2007-2020 and that gas prices would retain their historical link to oil prices.

None of those things happened, and greed turned into loss. The accumulation of market share was part of the problem (most of these companies control c60% of market share in their countries), making them very exposed to GDP and demand growth.... And demand growth vanished. European gas demand peaked in 2007 and is c. 9% below that level four years later.

The other problem was the bet on oil-gas link remaining, driving spot gas prices higher as demand soared. What happened is that spot gas prices collapsed by 15%, oil prices soared and the long-term contracts were overpriced versus flexible spot levels. This meant losses that reached levels of €1-1.5bn in 2010 for some companies. These losses are expected to turn to profit by 2013 through a combination of re-negotiation of contracts (mainly with Gazprom) and improvement of demand. Errrr.... not likely.

The bet was wrong on both sides (demand and price), and is likely to get worse mid-term, as demand growth estimates in Europe are overstated given the downward GDP revisions. Furthermore, Gazprom and Russia are in active discussions to build a 30BCM per annum pipeline to China, and the Yamal LNG project (where Total and Qatar are likely to be major players) will create a new export route for Russian gas. Therefore, Gazprom's "urgency" to renegotiate the take-or-pay contracts is diminishing by the day. And their policy is now to preserve wealth (reserves) not to maximize volumes exported to Europe. Gazprom's decline rates (4% pa, some see 6%) don't justify a policy of "maximizing volumes at any cost".

Well, see below a very interesting chart sent by Citigroup updating on the weakening environment for utilities as the oil-gas spread widens.

According to Citi "the spread is now back up to €7/MWh as you can see from the attached chart mostly driven from the appreciation of the US$ on which the oil basket that drives long-term gas prices is based. Midstream gas players should now be nearly 100% locked in through October 2012 and ~50% locked in through October 2013 at what they estimate to be a ~€5-5.5/MWh spread. So any incremental volumes sold from now on would actually be at a higher cost given today's prices, exacerbating loss-making positions".

The issue, as highlighted above, comes mainly for the giant market-share owners. European demand is unlikely to recover to 2007 levels until 2015, the flexibility of LNG and Asian demand is keeping the gas market in better conditions, but still oversupplied, and the strategic decision of revising take-or-pays goes radically against the political role of these giant companies as "security of supply" providers.

Expect earnings revisions to go... down.

--------------------------------------------------------------------------------

[grupo guitarlumber] 16/11/2011 13:33

GDF Suez (GSZ) SA: The operator of Belgium's atomic reactors will "reassess" its nuclear strategy in that country because of a 550 million-euro tax on the energy decided by the government. The shares fell 0.4 percent to 19.72 euros.

[waldron] 15/11/2011 19:43

By Ben Farey


Nov. 15 (Bloomberg) -- European Union regulations are creating an unstable investment climate that's discouraging essential energy investments, according to GDF Suez SA.

There's a "growing mismatch" between a European energy policy that's pushing for expensive investments in renewable power and the ability of the industry to deliver, Jean-Francois Cirelli, vice chairman and president of GDF Suez, said today at the European Autumn Gas conference in Paris.

"Governments do not hesitate to take decisions that are not totally based on economic rationale," he said. "European political risk has become a major concern to energy companies and investors and will clearly impede our ability to invest in Europe."

--Editors: Rob Verdonck, Randall Hackley

To contact the reporter on this story: Ben Farey in Paris at [e-mail]

To contact the editor responsible for this story: Stephen Voss at [e-mail]

[waldron] 15/11/2011 18:45

GDF Suez To Review Nuclear Strategy In Belgium If Tax Raised
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Today : Tuesday 15 November 2011
French utility group GDF Suez SA (GSZ.FR) will reassess its entire nuclear strategy in Belgium, between now and mid-2012, if Belgium raises its tax on nuclear energy, the company said in a statement.

"By levying a nuclear tax totalling EUR550 million per annum, Belgium is imposing on the sector a tax burden more than twice as high as what was adopted in Germany" it said, adding that the German tax was also disputed.

The group confirmed that it will contest the measures "by all legal means at its disposal."

In October, GDF Suez had already reacted to a possible tax increase on nuclear energy in Belgium by saying that it would revise its investment policy.

The French utility group said in Tuesday's statement that such a move by the Belgian government "is sending out a particularly negative signal to current and potential investors."

-By Nadya Masidlover, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 15/11/2011 18:20

Gas Exporters Seek 'High' Prices as They Cooperate on Supply, Projects
QBy Robert Tuttle, Anthony DiPaola and Wael Mahdi - Nov 15, 2011 5:44 PM GMT+0100 .
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Business ExchangeBuzz up!DiggPrint Email ...The world's largest natural-gas exporters aim to cooperate in developing projects for production and sale of the fuel to raise prices and boost supply.

Officials from Qatar, Iran, Egypt and Algeria, among others, agreed today in the Qatari capital Doha that the price of the fuel used to generate electricity is too low. They disagreed on how the Gas Exporting Countries Forum, a producers' group set up to share market information and coordinate projects, could also help maximize the income of its 11 members.

Producers need to narrow the gap between prices for gas and crude oil without trying to limit production, said Hamad Bin Khalifa Al Thani, the Emir of Qatar, the world's largest exporter of liquefied natural gas. Iran's Oil Minister Rostam Qasemi called in contrast for the forum, or GECF, to develop "a comprehensive market management plan" that would allow them to react to demand fluctuations by adjusting supply.

"When these countries say 'oil-linked prices' what they really mean is 'high prices,'" Robin Mills, head of consulting at Dubai-based Manaar Energy Consulting and Project Management, said in an e-mail today. "They wish to prevent the emergence of gas-on-gas competition and transparent market-based pricing."

Gas prices vary between the U.S., Europe and Asia due to differences in supply. U.S. prices are lower than those in Europe, which relies on both pipeline and liquefied gas. Most LNG delivered by ship is sold under long-term contracts based on oil prices, while recent spot sales have driven some market prices lower.

Algeria's Oil Minister Youcef Yousfi expressed a desire for higher gas prices in Europe, his country's main export market.

'Fair' Price
A "fair" price for gas would be at par with that of oil, Qatar's Energy Minister Mohammed Al-Sada said. GECF Secretary General Leonid Bokhanovsky said the group doesn't set output limits for its members -- unlike the Organization of Petroleum Exporting Countries -- and doesn't intend to "manipulate" prices.

"They always say: 'We are not an OPEC of gas,'" Guy Broggi, senior adviser to the director of liquefied natural gas at Total SA (FP), said today at the European Autumn Gas Conference in Paris. "But if they link the price to OPEC crude oil, someone else is taking care of their interests."

Gas company executives attending the conference in Paris and another one in Rome said the potential market clout of GECF members is a concern.

Wary Importers
"It's something to monitor because in Europe we have a situation in which imports come mainly from Russia, Algeria and Qatar, so it can't be taken lightly," Marco Arcelli, head of Italian utility Enel SpA (ENEL)'s Upstream Gas Division, said in an interview today at the World LNG Summit in Rome.

The ability of gas exporters to control prices is limited by the diverse and fragmented nature of global supply and by competition among producers, said Mills, the consultant.

"Through the unification of strategies between countries, we can determine the price," Qasemi said in an interview at the GECF meeting. "It's a general proposal," he added, declining to specify whether any formal Iranian plan to raise gas prices would include production quotas. Iran holds the second-biggest proved gas reserves after Russia, according to data from BP Plc.

Arctic Gas
Cooperation among producers can give rivals access to one another's markets. Russia and Qatar, which together hold one third of the world's gas reserves, may join in building an LNG project in Russia's Arctic region, Al-Sada and his Russian counterpart Sergei Shmatko said. It would be the first gas- production venture between the countries.

Qatar may also consider taking a stake in OAO Novatek, the company developing the Russian project, known as Yamal LNG, Al- Sada said.

Libya, Egypt and other GECF members backed calls for cooperation and said they sought investment to boost output both for domestic and foreign markets.

Libya will make new efforts to find crude oil and gas and plans to develop new downstream projects along its coast, National Transitional Council Chairman Mustafa Abdel Jalil said. Jalil assured Libya's partners that their energy projects will be protected.

Egypt's Petroleum Minister Abdalla Ghorab said gas exporters need to attract additional investment partners to help pay for rising production costs. Egypt has sought to negotiate price increases for customers of its gas, including Israel, Jordan and European buyers.

The GECF's 12 members are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Oman, Qatar, Russia, Trinidad & Tobago and Venezuela. Kazakhstan, the Netherlands and Norway have observer status.

To contact the reporter on this story: Robert Tuttle in Doha at [e-mail]; Anthony DiPaola in Doha at [e-mail]; Wael Mahdi in Doha at [e-mail];

To contact the editor responsible for this story: Stephen Voss at [e-mail]

[waldron] 15/11/2011 11:07

Zonebourse.com) Dans le cadre de la gestion du portefeuille "Turbo", l'équipe Zonebourse vient de prendre position sur le turbo call Commerzbank 3069Z portant sur le titre GDF SUEZ. Ce produit dérivé dispose d'une barrière désactivante à 17 et d'une maturité au 16/12/2011.
12121 titres ont été acquis à 0.33 EUR à 9h40.

Nous anticipons une reprise technique du titre ces prochaines séances dans la zone de cours actuelle avec les 22.15 EUR comme principal objectif soit un potentiel de l'ordre de 60% pour ce produit dérivé.

Le seuil d'invalidation de cette stratégie est fixé juste sous les 19 EUR, soit un risque limité à 20%.

Zonebourse.com/Turbo

[waldron] 15/11/2011 10:58

Belgian Negotiators Agree To Raise Nuclear Power Production Tax
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Today : Tuesday 15 November 2011
The Belgian politicians negotiating key priorities for a new government agreed to increase a tax on the production of nuclear power to EUR550 million a year from EUR250 million, a person close to the talks said Tuesday.

"There is an agreement," the person said, specifying the amount but declining to give any more detail as the negotiation is still ongoing on other sensitive topics.

The new sum is more than twice the EUR250 million imposed in recent years, and will mainly affect French utility GDF Suez SA (GSZ.FR), which owns Belgian utility Electrabel.

The negotiators' decision is aimed at extracting more revenue from the profits that utilities are making by producing electricity in old nuclear plants whose investment costs have already been paid back. This is even more important at a time when governments across Europe and the euro zone are seeking to cut expenses and increase revenues to reduce their debts.

-By Alessandro Torello, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 14/11/2011 16:28

By Tara Patel


Nov. 14 (Bloomberg) -- Electricite de France SA's power output may be affected by a strike on Nov. 17, according to the Confederation Generale du Travail labor union.

The strike by power and natural gas workers at EDF and GDF Suez SA is to protest against next year's salary proposals by the utilities, said Yves Ledoux of the CGT, the union representing the most energy workers in France.

Any drop in output "likely won't be a lot," Ledoux said by phone. He was unable to estimate the possible decline.

The union last organized a strike on Sept. 22 at EDF and nuclear reactor designer Areva SA to protest against working conditions for sub-contractors.

--Editors: Tony Barrett, John Viljoen

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 14/11/2011 14:38

Capital Research And Management Company Holds 5% Of GDF Suez
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Today : Monday 14 November 2011
Capital Research and Management Company announced it currently holds a 5% stake in the French utilities group GDF Suez (GSZ.FR), according to a filing for the domestic market regulator Autorite des marches financiers.

Capital Research and Management said it holds 113 million shares of GDF Suez, or 5.06% of its capital and voting rights, as of Nov. 11.

GDF Suez shares were down 2.3% at EUR20 at 1345 GMT.

-By Nadya Masidlover, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 14/11/2011 10:47

GDF Suez To Sell 600,000 Tons Of LNG To Petronet
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Today : Monday 14 November 2011
French power company GDF Suez SA (GSZ.FR) signed a contract to supply to supply India's Petronet LNG Ltd (532522.BY) with 600,000 tons of liquefied natural gas, both companies said in a joint statement for a price that was not disclosed.

MAIN FACTS:

- The cargoes will be from sources within GDF Suez's LNG portfolio and will be delivered to Petronet's Dahej LNG terminal in India by 2012.

- No financial details over the deal were disclosed.

- GDF Suez said it considers Asia and especially India as a core development region for its LNG business, with strong growth prospects and new supply potential.

- Since September 2010, GDF Suez concluded 4 LNG sales agreements with major energy players in Asia. Between 2010 and 2016, GDF Suez will deliver up to 136 cargoes (about 8.2 million tons) to Kogas, CNOOC Ltd, Petronas and Petronet. .

- By Paris Bureau, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 14/11/2011 09:30

source: TEC


MOUVEMENTS ET NIVEAUX
Depuis le plus bas à 18,87 EUR le titre est en phase de reprise technique vers sa moyenne mobile à 50 jours située à 20,51 EUR : le comportement des cours sur ce niveau permettra d'envisager la poursuite du mouvement à moyen terme. Pour alléger la position, on pourra attendre de tester les résistances à court terme situées à 22,58 EUR et 24,16 EUR. Les supports sont à 17,03 EUR puis à 15,45 EUR .

[grupo guitarlumber] 12/11/2011 14:13

source: the independent

International Power was on a firm footing last night as investors moved in on the prospect of gains following the power generator's investments in Latin America, the Middle East and other fast-growing energy markets which have keep it ahead of less nimble European rivals.

Collins Stewart said the main European power generators were facing threats from political interference and from the fact that "EU power plants are nearing the end of their natural life cycles, given that the last major investment boom in much of the EU" was in the 1970s and 1980s.

These challenges are leading to uncertainty and higher investment needs "just as the investment climate is deteriorating". International Power, however, has "limited exposure to the EU woes", it said.

"It has exposure to fast growing energy markets in North America, Latin America and META [Middle East, Turkey and Africa], where it enjoys a significant market presence," Collins Stewart analyst Harold Hutchinson explained, helping the stock firm up by 6.4p to 338.5p.

He also pointed out that the company's relationship with GDF Suez, which is the biggest shareholder following a deal earlier this year, meant that it was backed by a strong balance sheet. "The influence of GDF Suez helps support an investment grade rating for International Power," Mr Hutchinson added.

[waldron] 10/11/2011 13:48

Chile's Colbun Studying Developing LNG Gas Regasification Plant
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Today : Thursday 10 November 2011
Chilean power generator Colbun SA (COLBUN.SN) is studying developing a liquefied natural gas regasification plant as prices for LNG are forecast to decline, a company spokesman said, confirming a newspaper report.

Colbun, which has thermal generation and hydroelectric plants, has seen its bottom line crimped because of a prolonged drought and delays in starting up its Santa Maria coal-fired power plant.

"This idea came about because the gas Chile had been buying is very expensive, making it unusable to generate electricity. That is changing in the world because of new technologies, and prices are going to drop," Colbun President Bernardo Matte said, according to newspaper El Mercurio.

LNG has become an important part of Chile's energy matrix in recent years with the Mejillones regasification terminal in the country's north region and Quintero regasification plant in the central region.

Chile developed LNG as an energy source during former President Michelle Bachelet's term in an effort to diversify its energy mix and increase security after Argentina started to sharply reduce natural gas exports to its neighbor in 2004. A 2008 drought also severely curtailed hydroelectric production in Chile, helping to drive the development of LNG.

The GNL Mejillones regasification terminal, a joint-venture between Chilean state copper mining company Corporacion Nacional del Cobre, or Codelco, and France's GDF Suez SA (GSZ.FR), supplies customers on the SING grid, which is home to the vast majority of the nation's bustling copper mining industry

The Quintero plant is controlled by London-based Bg Group PLC (BRGYY, BG.LN) and state oil and gas company Empresa Nacional del Petroleo, or Enap, and supplies energy to the nation's largest power grid, the central SIC grid.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; [e-mail]

[waldron] 10/11/2011 07:56

The Associated Press November 8, 2011, 6:31AM ET text size: TTMerkel, Medvedev inaugurate new gas pipeline
By JUERGEN BAETZ

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order a reprintdigg thissave to del.icio.us LUBMIN, Germany

The leaders of Germany and Russia are opening a euro7.4 billion ($10.2 billion) natural gas pipeline that links western Europe directly with Siberia's vast gas reserves.

Chancellor Angela Merkel and President Dmitry Medvedev met Tuesday in the village of Lubmin on Germany's Baltic Sea coast, where the 760-mile (1,200-kilometer) Nord Stream underwater pipeline reaches land.

French Prime Minister Francois Fillon and his Dutch counterpart Mark Rutte also attended the ceremony in a sign of the political importance of Europe's newest energy link, meant to strengthen the security of gas supplies.

The pipeline is to ferry the gas from Vyborg, near St. Petersburg in northern Russia, under the Baltic to Lubmin. That creates a direct link between the Russian and western European networks -- circumventing sometimes troublesome traditional overland transit routes through Ukraine, Belarus and Poland.

Once the project is complete, gas will flow to Europe through two pipelines. The first line, being inaugurated Tuesday, will have an annual capacity of 27.5 billion cubic meters.

That volume will double once the second line is completed -- expected next year. Nord Stream says it's the world's longest underwater pipeline.

Russia's Gazprom OAO holds 51 percent of Nord Stream, while German energy companies E.ON Ruhrgas AG and Wintershall AG each hold 15.5 percent. Dutch company Nederlandse Gasunie NV and France's GDF Suez hold 9 percent each.

Europe currently gets about 25 percent of its natural gas from Russia, which sits on the world's largest reserves. The gas is mostly ferried through Soviet-era pipelines crossing the Baltic states, Poland and Ukraine.

"Nord Stream improves the safety of our energy supply -- not only for Germany but for Europe as a whole," German Economy Minister Philip Roesler said before the opening.

The new pipeline received high-level political backing in Germany, and former Chancellor Gerhard Schroeder went on to work for the consortium building the pipeline after he left office in 2005. But officials in Poland and Ukraine, bypassed by the pipeline, have given the project at best a lukewarm welcome.

The new pipeline will undercut Ukraine's leverage in a long-running dispute about Russia's gas and transit fees.

When the long-simmering dispute between Moscow and Kiev escalated in 2009, Western Europe was taken by surprise as Ukraine cut off the pipelines, causing supply interruptions in the middle of the winter.

Building of the Nord Stream pipeline was started in April 2010. Each of the two pipelines consists of 100,000 steel pipes laid on the seabed.

[waldron] 08/11/2011 16:49

MOUVEMENTS ET NIVEAUX
Le mouvement haussier semble être arrêté. Le titre est sous sa moyenne mobile à 50 jours située à 21,44 EUR. Le premier support est à 16,98 EUR, puis à 15,84 EUR et la résistance est à 23,87 EUR, puis à 25,02 EUR.

[grupo guitarlumber] 07/11/2011 20:03

French Nuclear Pullout Would Cost Billions, Increase Emissions, Lobby Says
QBy Tara Patel - Nov 7, 2011 2:28 PM GMT+0100 .
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Business ExchangeBuzz up!DiggPrint Email ...Curbing nuclear power in France, as proposed by the Socialist Party's presidential candidate, would cost tens of billions of euros, raise energy prices and add to carbon emissions, a utilities lobby said before May elections.

"We must not entertain the illusion that we can get out of nuclear by relying on energy savings and renewables," said Robert Durdilly, president of Union Francaise de l'Electricite, a Paris-based industry group with members that include power producers Electricite de France SA and GDF Suez (GSZ) SA.

Socialist candidate Francois Hollande's proposal to reduce atomic output would cost 60 billion euros ($83 billion) in additional investment, according to a study by the lobby.

France uses atomic energy for more than three-quarters of its needs, the most of any country. The organization examined the outcome of three scenarios in 2030 in which nuclear reactors provide 70 percent, 50 percent and 20 percent of output. Should nuclear provide the lowest proportion, French reliance on power imports would rise and investment would be required to develop renewable and hydrocarbon capacity, according to the study.

After the Japanese atomic disaster at Fukushima in March, opposition politicians and environmental groups have questioned French dependence on 58 nuclear reactors owned by state-run EDF. Hollande has said he favors a reduction in the proportion of atomic power to total energy generated to 50 percent by 2025.

Politics of Energy
France would need to add two further reactors assuming 70 percent of its power came from nuclear plants by 2030, the lobby said. EDF is developing one site in Flamanville in Normandy and has plans for another at Penly, also in northern France.

Slashing dependence to 20 percent would mean halting all the current atomic generators after 40 years of operation, leaving 12 still working in 2030, and would require development of about 40 thermal plants, according to the study. That would cost 112 billion euros on top of the 322 billion euros needed if atomic energy provides 70 percent of the total, the study shows.

EDF's oldest nuclear generators have been in operation for about three decades. The utility is seeking regulatory approval to operate them for another decade, while preparing to invest in them to further prolong their lives for as long as 60 years.

Employing nuclear for half the power supply would require an extra 60 billion euros and leave 32 reactors operating.

Carbon Emissions

"It's impossible to get out of nuclear without massive investment in thermal plants," lobby adviser Jean-Francois Raux told journalists today. Carbon emissions from generation would be multiplied by three should the government reduce the contribution from nuclear to 20 percent of the total.

Demand is expected to rise to 555 to 625 terawatt-hours by 2030 from 488 terawatt-hours last year, depending on the level of energy savings and economic growth. The increase will be driven partly by demand from electric cars and fast trains.

France has criticized Germany's decision to phase out atomic power by 2022 after Fukushima. Unlike German Chancellor Angela Merkel, who decided in March to shut more than 25 percent of the country's atomic capacity, French President Nicolas Sarkozy has reiterated support for nuclear investment. France should operate its reactors "as long as is needed because at this time there isn't a substitute," Foreign Minister Alain Juppe said in an interview on Europe1 radio yesterday.

"We want to avoid decisions that are made out of emotion," Durdilly said. By maintaining its nuclear plants, France would keep its options open as technology develops.

France, a net power exporter, has in recent years imported increasing amounts of electricity from Europe during cold snaps and heat waves to make up for production shortfalls at home.

"The fundamental political question is whether it is more urgent to move away from nuclear or reduce carbon emissions," according to the study. "It's not possible to maintain economic competitiveness and lower emissions without a high level of nuclear in the energy mix."

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[grupo guitarlumber] 07/11/2011 10:48

Brazil Tractebel 3Q Net Profit Up 3% On Higher Power Sales
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Today : Monday 7 November 2011
Tractebel Energia SA (TBLE3.BR), the Brazilian unit of GDF Suez SA (GSZ.FR), said over the weekend net profit for the third-quarter rose 3% from a year earlier due to increased electricity sales.

The company's net profit for the three months ended Sept. 30 was 332.3 million Brazilian reais ($191 million), up from BRL322.1 million a year earlier.

The results were compiled using international financial reporting standards.

Revenue totaled BRL1.15 billion, up from BRL1.08 million. Earnings before interest, taxes, depreciation, and amortization grew to BRL725.3 million from BRL688.5 million.

The company's net debt at the end of the third quarter was BRL2.6 billion, up from BRL3.1 billion a year earlier.

-By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071; [e-mail]

[grupo guitarlumber] 07/11/2011 09:49

France Must Spend EUR322 Billion In Energy Investments By 2030-Study
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Today : Monday 7 November 2011
France needs to invest EUR322 billion in its power generation and distribution means over the next 20 years, an amount that would increase to EUR382 billion to include developing other energy sources if the nuclear share in its energy mix was cut to 50% by 2030 from around 75% at present, according to a study the French energy industry association released Monday.

Should the government decide to lower the nuclear share to 20% of the country's mix by 2030, when a majority of France's reactors reach 60 years of age, the country would need to spend EUR434 billion by then to develop alternative power sources, according to the study conducted for the Union Francaise de l'Electricite.

Prices paid by French households will increase by around 33% by 2030 if nuclear remains at around 70% of the country's energy mix, and would increase by 50% in a scenario in which nuclear accounts for 50% of France's energy mix, the study found. In the latter case, French consumers would still pay lower prices than German consumers, it said.

The study was conducted after Japan's Fukushima nuclear crisis following the earthquake and tsunami there in March triggered an unprecedented debate over the use of nuclear energy in France, which has 58 reactors and is currently building another one, ahead of the presidential election of May 2012.

- By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 04/11/2011 20:53

Le vendredi 4 novembre 2011, à 19h 14
Sur les 5 derniers jours, le titre s'est effondré de 7.74%. Depuis le début de l'année, il est en baisse de 25.23%.

Du point de vue de l'analyse technique : le RSI est inférieur à sa zone de neutralité des 50. Le MACD est inférieur à sa ligne de signal et négatif. La configuration est baissière à court terme. Enfin, le titre est inférieur à sa moyenne mobile 50 jours.
A noter que les volumes sont en hausse depuis quelques jours.

Graphiquement : les niveaux de résistances se situent sur : 21.7 puis 22.4. Tandis que les prochains supports sont sur : 18.1 puis 17.1.

Notre préférence : Le titre GDF Suez (Euronext: GSZ.NX - actualité) (GSZ) est baissier tant que 22.4 est résistance.

Le point d'invalidation de notre scénario est situé sur : 22.4.
Cours de référence : 20.1.
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