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[waldron] 06/12/2012 19:50

GDF Suez Boosts Share of Gas Supply Deals Linked to Market Price
By Tara Patel on December 06, 2012

GDF Suez SA (GSZ) is boosting the share of its French natural-gas supply contracts linked to market prices amid a legal battle with the government on regulated tariffs.


Indexation to spot prices is now higher than the 26 percent at the start of 2012, Chief Executive Officer Gerard Mestrallet said today. A formula for calculating tariffs reflecting the shift may be unveiled next week, he said. GDF Suez's biggest suppliers are Norway, Russia, Algeria and the Netherlands.

Environment and Energy Minister Delphine Batho will reveal on Dec. 10 household rates for natural gas from the start of the year. The government, which last week lost a court challenge by distributors to a price cap, may raise regulated rates 2 percent to 3 percent on Jan. 1, Le Figaro said without citing anyone.

GDF Suez and peers have won cases against the government in the past year to set regulated rates high enough to cover supply costs. The former monopoly said today a shortfall in earnings before interest, taxes, depreciation and amortization in the second half totaled 185 million euros ($240 million).

"The costs will have to be covered, this is the law," Mestrallet said today at a conference. "We have not hesitated to sue our own shareholder. We're on the safe side of the law." France has to apply "clear rules" on setting prices, he said.

Europe's natural-gas pricing system that links contracts to oil futures is impossible to maintain while long-term and spot prices are diverging, GDF Executive Vice President Jean-Marie Dauger says. Spot gas prices in Europe have dropped as economic stagnation cuts demand and liquefied natural gas imports rise.

European utilities including GDF Suez, EON AG and RWE AG (RWE) have pressed suppliers including Russian gas-export monopoly OAO Gazprom to revise long-term agreements after losing hundreds of millions of euros on contracts linked to oil prices.

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] 06/12/2012 12:00

GDF Suez (-13%): Natixis abaisse son objectif de cours

Today : Thursday 6 December 2012
Natixis abaisse son objectif de cours pour GDF Suez (GSZ.FR) de 18,50 à 17,30 euros, après l'annonce par le groupe gazier de perspectives pour 2013-2014 qui prennent en compte une nette dégradation de l'environnement macroéconomique en Europe. Cette mise au point semble plus défensive que les précédentes annonces stratégiques de GDF Suez, observe la banque. Il semble que le contexte économique en Europe pèse de tout son poids alors que le groupe est en train de se désengager d'un marché européen mature, ajoute-t-elle. Natixis maintient une recommandation "neutre" sur le titre, qui chute de 12,8% à 15,02 euros. ([e-mail])

[waldron] 06/12/2012 10:38

Goldman Sachs a une recommandation "d'achat" sur le titre, avec un objectif de cours de 27,1 euros. Le titre abandonne 13% à 15 euros. ([e-mail])

[waldron] 06/12/2012 10:10

Morgan Stanley constate qu'un environnement opérationnel difficile en Europe et un important plan de réduction des coûts ont eu un effet nettement plus négatif qu'attendu. La banque a une recommandation "sous-performance" sur le titre GDF Suez, avec un objectif de cours de 18,50 euros. ([e-mail])

[waldron] 06/12/2012 10:06

GDF Suez: Shuttered Belgian Reactors Can Resume Operations
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Today : Thursday 6 December 2012
By Alessandro Torello
BRUSSELS--GDF Suez SA (GSZ.FR), the operator of two Belgian nuclear reactors that were shut earlier this year after cracks were found in the reactors, said Thursday the plants can resume operations immediately as their safety hasn't been compromised.
"The studies and the calculations show that the structural integrity of the vessels meets all safety criteria," the company said in a statement.
The two of seven nuclear reactors in Belgium were closed over the summer after tests carried out with new technology found cracks in the steel of the reactor containment vessels.
Write to Alessandro Torello at [e-mail]
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[waldron] 06/12/2012 09:17

GDF Suez Earnigns to Be Hit by French Tariffs in 2012, CEO Says
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Today : Thursday 6 December 2012
By Geraldine Amiel
PARIS--GDF Suez SA (GSZ.FR) will see its earnings hit this year as regulated energy tariffs set by the French government won't offset supply costs, its chairman and Chief Executive Gerard Mestrallet said Thursday.
The company expects to lose around 185 million euros ($242.2 million) in earnings before interest, tax, depreciation and amortization this year, and for the fourth quarter alone, the Ebitda shortfall is estimated at EUR165 million, Mr. Mestrallet said at a press conference ahead of an analyst meeting.
The French government is to announce Monday the set tariffs for next year; Mr. Mestrallet declined to make any comment on them until then.
Earlier Thursday, French daily Le Figaro reported that regulated gas prices in France are to rise between 2% and 3% next year.
Late Wednesday, the group announced the acceleration of a plan as it seeks to cut its debt and loosen ties with waste and water unit Suez Environnement SA (SEV.FR) and European activities due to a deteriorating economy there.
Speaking on French radio RTL, Prime Minister Jean-Marc Ayrault said the government is negotiating with GDF Suez to try to alter the mechanism and the contracts that determine rises in regulated gas prices.
"I can't confirm the exact figure, but it's true that we are regularly confronted with these price increases linked to the contracts indexed to the price of oil," said Mr. Ayrault.
Write to Geraldine Amiel at [e-mail]
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[waldron] 06/12/2012 08:36

French Regulated Gas Tariffs May Rise 2% to 3% Jan 1 - Report
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Today : Thursday 6 December 2012
Regulated gas prices in France may rise between 2% and 3% from Jan. 1, French daily Le Figaro reports Thursday, without citing its sources.
A rise of between 2% and 3% is being studied by the state, France's energy regulation commission and GDF Suez SA (GSZ.FR), le Figaro reports.
Speaking on French radio RTL Thursday, Prime Minister Jean-Marc Ayrault said the government is negotiating with GDF Suez to try to alter the mechanism and the contracts that determine increases in regulated gas prices.
"I can't confirm the exact figure, but it's true that we are regularly confronted with these price increases linked to the contracts indexed to the price of oil," said Mr. Ayrault.
Newspaper Web site:
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[waldron] 05/12/2012 21:53

Vers une hausse de 2 à 3% des prix du gaz au 1er janvier
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Today : Wednesday 5 December 2012
Les tarifs réglementés du gaz, qui concernent 10 millions de foyers français, devraient augmenter de 2 à 3% au 1er janvier a rapporté Le Figaro mercredi sur son site Internet, citant des récents échanges sur le sujet entre les pouvoirs publics, GDF Suez et la Commission de régulation de l'énergie (CRE).



Le quotidien précise que la mesure peut encore "être arbitrée jusqu'au dernier moment par le gouvernement" alors que la ministre de l'Énergie, Delphine Batho, doit dévoiler lundi ses décisions en matière de tarifs du gaz.



Le Figaro rappelle que les prix n'auraient dû augmenter que de 0,8% au premier janvier, selon l'application de la formule habituelle, mais que le gouvernement "doit procéder à des rattrapages pour toutes les hausses qui n'ont pas été décidées auparavant".



Selon le journal, le nombre de personnes bénéficiant des tarifs sociaux du gaz pourrait également sensiblement augmenter, passant de 400.000 actuellement à près de 1,5 million.

[ariane] 05/12/2012 19:39

GDF Suez SA (EPA: GSZ)'s stock had its "equalweight" rating reaffirmed by research analysts at Barclays Capital in a report released on Wednesday. They currently have a $23.68 (€18) target price on the stock.

[ariane] 05/12/2012 19:25

GDF Suez To Loosen Ties to Water Business
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Today : Wednesday 5 December 2012
By Matthew Curtin and Inti Landauro
PARIS-- GDF Suez SA (GSZ.FR) Wednesday said it will loosen the ties to its water business as it focuses more of its financial firepower on its international energy activities in a major shift in strategy driven by changes in global energy market and Europe's economic troubles.
The plan will involve the sale or deconsolidation of more than 11 billion euros ($14.4 billion) in assets in Europe and other developed markets as the group seeks to double sales of liquefied natural gas to Asia by 2020.
The French energy group said it will not renew a shareholder pact with 35.7%-owned Suez Environnement, its water and waste-management unit, that is due to expire in July next year though GDF Suez has no plan to reduce its stake in the company.
The decision comes just months after Suez Environnement contemplated a merger with Veolia Environnement, its bigger French rival, though the early-stage plans eventually came to nothing partly because of worries over likely intense anti-trust scrutiny in Europe. Profitability at Suez Environnement and Veolia has come under pressure from Europe's financial crisis as industrial and municipal customers have cut back on spending on water and waste-treatment services.
At the same time, GDF Suez, confronted with higher levies on its European energy operations, said it will step up efforts to reduce operating costs and improve revenues at its core energy operations, aiming to increase profit by 3.5 billion euros a year from 2015, in addition to one billion euros in savings from lower capital spending and tighter management of working capital.
GDF Suez said it plans to reduce net debt by a third to around 30 billion euros by the end of 2014, partly by the 20% reduction in capital spending to 7 billion euro to 8 billion euro a year in 2013 and in 2014.
"Faced with a challenging energy outlook in 2013-2014 in Europe, GDF Suez has decided to accelerate its transformation, simplify its group structure, reduce its cost base, its capex and its debt," said Gerald Mestrallet, chief executive of GDF Suez who is also chairman of Suez Environnement.
-Write to Matthew Curtin at [e-mail]
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[ariane] 05/12/2012 19:16

GDF Suez Cuts Debt by EUR800 Million Through Sale of Stake in IP Maestrale
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Today : Wednesday 5 December 2012
French power company GDF Suez (GSZ.FR) Wednesday it will reduce its debt by 800 million euros ($1.05 billion) after selling a majority stake in Italian wind energy unit IP Maestrale to energy group ERG SpA.
MAIN FACTS:
- GDF Suez will sell its stake in Maestrale for an enterprise value of EUR900 million.
- As part of the transaction, GDF SUEZ will remain a minority shareholder of the company with a 20% stake.
- The transaction is subject to conditions precedent and is expected to close during the first quarter of 2013.
- Through this disposal and other transactions completed, GDF SUEZ has achieved 70% of its asset optimization program of EUR13 billion by the end of 2013.
-Write to Inti Landauro at [e-mail]
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[grupo guitarlumber] 05/12/2012 14:08

GDF Suez to Give up Effective Control of Suez Environnement- Report
12/05/2012| 08:59am US/Eastern

French power company GDF Suez SA (>> GDF SUEZ) won't renew a shareholder pact giving it effective control of waste and water management company Suez Environnement(>> SUEZ ENVIRONNEMENT), a decision enabling it trim debt from its books, La Tribune reports Wednesday.

GDF Suez is likely to announce it won't renew a pact binding its 35.7% stake in Suez Environnement with the minority stakes of Belgian billionaire Albert Frere, state-owned financial company Caisse des Depots et Consignations, Areva (>> AREVA), CNP Assurances (>> CNP ASSURANCES) and Sofina (>> SOFINA). The total stake held under the shareholder pact is 48.4%, La Tribune reports on its website, citing unidentified sources.

Through the operation, GDF Suez would exclude the full debt load of Suez Environnement in its accounts. As a result, it would reduce its debt load by 5 billion euros ($6.5 billion), says the report.

The pact comes up for renewal in July. Officials at GDF Suez declined to comment.

At 1338 GMT, GDF shares were down 0.06% at EUR17.43, and at 1340 GMT, shares of Suez Environnement were up 1.47% at EUR8.58.

Newspaper website: www.latribune.fr

Write to Inti Landauro at [e-mail]

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[grupo guitarlumber] 05/12/2012 13:02

The government will announce revised tariffs on Dec. 10, Environment and Energy Minister Delphine Batho said in a statement Nov. 29 following the latest court ruling. The new rates will take effect at the start of next year.

[waldron] 04/12/2012 18:24

(CercleFinance.com) - HSBC maintient son opinion 'neutre' et son objectif de cours de 18 euros sur GDF Suez avant la journée d'investisseurs du jeudi 6 décembre.

[waldron] 04/12/2012 08:48

GDF SUEZ : cherche partenaire au Chili 03/12/2012 14:08


GDF Suez cherche un partenaire stratégique pour l'un des plus grands projets énergétiques dans le nord du Chili.

[waldron] 03/12/2012 10:05

JEUDI 6 DECEMBRE



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