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[grupo guitarlumber] 01/2/2013 09:26

GDF SUEZ : La visibilité s'améliore en France, CM-CIC reste positifjeudi 31 janvier 2013 à 12h10
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Recevez les dernières informations sur GDF Suez en temps réel
(Tradingsat.com) - L'annulation hier par le Conseil d'Etat de trois arrêtés visant à geler ou limiter les tarifs du gaz, constitue "une décision positive [...] mais déjà largement anticipée", commence jeudi CM-CIC Securities. "Cette situation est strictement identique à celle de l'été dernier, où GDF Suez avait obtenu un rattrapage rétroactif", poursuit le broker. Au vu de nombreux "atouts pour faire face à la crise" (visibilité améliorée sur le marché français, une génération de cash qui demeure importante, une présence dans les activités régulées/contractées, le recentrage sur les pays émergents à forte croissance), CM-CIC Securities confirme aujourd'hui son opinion "Achat" et son objectif de cours de 23 euros sur GDF Suez.

[waldron] 31/1/2013 13:03

GDF Suez devrait profiter de la décision du Conseil d'Etat - Goldman Sachs
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Gdf Suez (EU:GSZ)
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Today : Thursday 31 January 2013
Les données financières de GDF Suez (GSZ.FR) devraient légèrement s'améliorer maintenant que le Conseil d'Etat a confirmé que les prix du gaz avaient été fixés à un niveau trop bas en 2011 et en 2012, estime Goldman Sachs. La banque ajoute que cette décision "continue de souligner qu'il existe une limite légale aux décisions du gouvernement sur les tarifs du gaz". Elle note également que cela accroît la visibilité sur les prix du gaz, ce qui devrait être favorable à l'action à long terme. Goldman Sachs prévoit que la comptabilisation du rattrapage prévu devrait se traduire par une hausse de 4% du bénéfice par action en 2013. La banque maintient sa recommandation "acheter" et son objectif de cours de 25,30 euros pour GDF Suez, qui perd 0,7% à 15,14 euros. ([e-mail])

[waldron] 31/1/2013 07:41

GDF Suez to Recover EUR151 Million Revenue Shortfall from Court Ruling-CEO
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Gdf Suez (EU:GSZ)
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Today : Thursday 31 January 2013
By Inti Landauro
PARIS--GDF Suez SA (GSZ.FR) will be able to recover 151 million euros ($203 million) in revenue shortfall following a court ruling that ordered retroactive natural gas tariff increases, the French power company's chief executive said Wednesday.
France's highest administrative court, the Conseil d'Etat, ruled earlier in the day against several government decisions that capped gas tariff increases in 2011 and 2012, as they didn't take gas distributors' supply costs into account, opening the door to higher customer bills.
Over the past five years, successive governments have capped natural gas and electricity prices in a bid to protect customers' spending power in the face of the economic crisis, ignoring the law that stipulates power distributors' supply costs must at least be matched.
GDF Suez will spread the retroactive increase over a period of 18 months starting in July, CEO Gerard Mestrallet said. The average annual customer's bill will rise on average by EUR23.
In July 2012, the Conseil d'Etat ruled against similar and older government decisions, forcing the government to allow gas distributors to increase bills to recoup shortfalls valued at EUR214 million. These price rises are to be spread over 18 months and started this month.
Following the clash with GDF Suez and smaller rivals, such as Poweo SA (ALPWO.FR) and the French unit of Eni SpA (E), the French government changed the formula used to set natural gas tariffs, and will now tie prices to both oil and gas market prices, rather than just oil. The new formula will be updated every month instead of every quarter.
The government will have the option to suspend the new formula, but will have to set a means that would allow gas distributors to recover any shortfall within a year, Mr. Mestrallet said.
Write to Inti Landauro at [e-mail]
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[waldron] 30/1/2013 18:10

French Government Says Gas Tariff Ruling to Hike Bills by EUR23
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Gdf Suez (EU:GSZ)
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Today : Wednesday 30 January 2013
By Geraldine Amiel
PARIS--France's energy and environment minister, Delphine Batho, said Wednesday that a court ruling ordering retroactive natural gas tariff hikes will increase customers' bills on average by EUR23.
France's highest administrative court, the Conseil d'Etat, on Wednesday ruled against several government decisions capping gas tariff increases in 2011 and 2012, as they didn't take gas distributors' supply costs into account, opening the door to higher customer bills.
Over the past five years, successive governments have capped natural gas and electricity prices in a bid to protect customers' spending power in the face of the economic crisis, ignoring the law that stipulates power distributors' supply costs must at least be matched.
Following appeals from GDF Suez SA (GSZ.FR) and its smaller competitors, such as Poweo SA (ALPWO.FR) and the French unit of Italy's Eni SpA (E), against government decisions either to limit tariff hikes or even freeze tariffs, the Conseil d'Etat ordered the government to retroactively set tariff increases within a month.
Bill increases must be spread over the longest time possible to avoid affecting customers' spending power too much, Ms. Batho said.
The ruling was expected because of previous decisions made by the Conseil d'Etat, Ms. Batho added.
In July last year, the Conseil d'Etat ruled against similar government decisions, forcing the government to allow gas distributors to increase bills to recoup shortfalls.
Write to Geraldine Amiel at [e-mail]
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[waldron] 30/1/2013 15:30

French Court Rules Against Gas Tariffs Caps
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Gdf Suez (EU:GSZ)
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Today : Wednesday 30 January 2013
By Geraldine Amiel
PARIS--France's highest administrative court, the Conseil d'Etat, Wednesday cancelled several government decisions capping gas tariff increases over 2011 and 2012, as they didn't take the supply costs of gas distributors into account, opening the door to higher bills for customers.
Over the past five years, successive French governments have capped natural gas and electricity prices in a bid to protect the spending power of customers in the face of the economic crisis, thus ignoring the law which stipulates that power distributors' supplying costs had to be at least matched.
Following appeals against the decisions to either limit tariffs hikes or even freeze tariffs from GDF Suez SA (GSZ.FR) and smaller competitors, such as Poweo SA (ALPWO.FR) and the French unit of Italy's Eni SpA (E), the Conseil d'Etat ordered the government to retroactively set new tariff increases for the period within a month.
The government had late last year anticipated such a decision and already said that the impact on customer bills from such a decision would be spread over time.
It has since set a new method to set up natural gas tariffs, on a monthly basis, which will be implemented from February onwards.
In July last year, the Conseil d'Etat had already ruled against similar governmental decisions, forcing the government to let gas distributors increase their bills to recoup their shortfalls.
Write to Geraldine Amiel at [e-mail]

[waldron] 30/1/2013 15:17

French Court Rules Against Gas Tariffs Caps
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Gdf Suez (EU:GSZ)
Intraday Stock Chart
Today : Wednesday 30 January 2013
By Geraldine Amiel
PARIS--France's highest administrative court, the Conseil d'Etat, Wednesday cancelled several government decisions capping gas tariff increases over 2011 and 2012, as they didn't take the supply costs of gas distributors into account, opening the door to higher bills for customers.
Over the past five years, successive French governments have capped natural gas and electricity prices in a bid to protect the spending power of customers in the face of the economic crisis, thus ignoring the law which stipulates that power distributors' supplying costs had to be at least matched.
Following appeals against the decisions to either limit tariffs hikes or even freeze tariffs from GDF Suez SA (GSZ.FR) and smaller competitors, such as Poweo SA (ALPWO.FR) and the French unit of Italy's Eni SpA (E), the Conseil d'Etat ordered the government to retroactively set new tariff increases for the period within a month.
The government had late last year anticipated such a decision and already said that the impact on customer bills from such a decision would be spread over time.
It has since set a new method to set up natural gas tariffs, on a monthly basis, which will be implemented from February onwards.
In July last year, the Conseil d'Etat had already ruled against similar governmental decisions, forcing the government to let gas distributors increase their bills to recoup their shortfalls.
Write to Geraldine Amiel at [e-mail]

[waldron] 30/1/2013 14:43

Actualisé: Prix du gaz: le Conseil d'Etat donne raison à GDF Suez, 2ème rattrapage en vue
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Gdf Suez (EU:GSZ)
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Today : Wednesday 30 January 2013
Le Conseil d'Etat a donné raison à GDF Suez et ses concurrents qui contestaient plusieurs arrêtés limitant les tarifs du gaz en 2011 et en 2012, ouvrant la voie à la facturation par l'opérateur historique d'un nouveau rattrapage à ses clients.



Le gouvernement avait déjà dit s'attendre à une telle décision du Conseil d'Etat et avait indiqué que si un nouveau rattrapage était accordé à l'opérateur, il serait de nouveau étalé sur un an et demi, comme celui qu'il avait déjà dû octroyer à GDF Suez l'été dernier, après une décision similaire du Conseil d'Etat.



Un tel rattrapage "ne sera pas surprenant et ce sera le dernier", avait ainsi assuré jeudi dernier à l'AFP la ministre de l'Energie Delphine Batho, ajoutant que "cela permettra de solder le passif (avec GDF Suez) et de partir sur de nouvelles bases".



Dans le détail, le Conseil d'Etat a annulé un arrêté pris en juin 2011 par le gouvernement Fillon, qui avait conduit à un gel du gaz pour les particuliers et à une hausse de 3,2% pour les autres catégories de clients, ainsi que deux autres arrêtés pris par le gouvernement Ayrault en juin et septembre 2012. Ces deux derniers arrêtés avaient augmenté de 2% les tarifs du gaz, bien moins que le niveau jugé nécessaire par le régulateur du secteur.



Pour simplifier, dans les trois cas, le Conseil d'Etat a considéré que le gouvernement Ayrault, comme son précécesseur, avait commis une erreur de droit en ne pas respectant la formule de calcul des tarifs du gaz pourtant en vigueur, puisqu'il avait délibérément fixé les hausses à des niveaux inférieurs à ceux résultant de l'application de cette formule, sans justification légale.



Le Conseil d'Etat avait été saisi par GDF Suez lui-même, ainsi que par l'Anode, association rassemblant plusieurs fournisseurs alternatifs, et l'Uprigaz, une organisation professionnelle qui comprend à la fois GDF Suez et des opérateurs concurrents.

[waldron] 30/1/2013 12:27

E.ON Cuts Outlook As European Energy Market Remains Tough
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Gdf Suez (EU:GSZ)
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Today : Wednesday 30 January 2013
By Jan Hromadko
FRANKFURT--German utility E.ON AG (EOAN.XE) warned Wednesday that its business will remain under intense pressure in the coming years as a weak European economy continues to drag down energy demand and prices.
The company pledged to protect its earnings and dividend payments by reducing future investment and focusing on renewable energy, smaller-scale local power generation, and growth markets outside Europe.
Germany's largest utility by market value said it expects earnings in 2013 to decline by nearly 15% on the year, after having recorded a 16% year-on-year increase in preliminary operating profit in 2012.
The company said that the projection for falling earnings this year is mainly due to expectations for lower profitability at its power-generation business and reduced income after the sale of some assets.
Additionally, its natural gas wholesale business will not benefit, as it did in 2012, from one-off compensation payments from gas producer OAO Gazprom (GAZP.RS) as part of a settlement to adjust prices of long-term gas supply contracts, E.ON said.
E.ON now expects 2013 earnings before interest, taxes, depreciation and amortization to come in between 9.2 billion euros and 9.8 billion euros ($12.4 billion to $13.2 billion). Underlying after tax profit in 2013 is expected to be between EUR2.2 billion and EUR2.6 billion, the company said.
The company previously forecast a 2013 Ebitda of EUR11.6 billion to EUR12.3 billion and underlying after-tax profit of EUR3.2 billion to EUR3.7 billion. E.ON withdrew that outlook in November and has said its dividend targets for the coming years will also need reviewing.
E.ON is just one of many European utilities that have warned in the past few months that trading conditions are deteriorating rapidly as the euro-zone crisis reduces industrial activity in some parts of the continent. The resulting fall in energy demand has been depressing profit margins from power generation.
French utility GDF Suez SA (GSZ.FR) also warned in early December that its earnings will remain under pressure in the coming years. Both companies have been seeking growth outside the region in energy-hungry emerging markets to mitigate poor growth in Europe.
German utilities like E.ON and rival RWE AG (RWE.XE) are facing additional headwinds, such as the rapid expansion of renewable energy that has weighed down wholesale power prices. Germany promotes renewable energy, such as solar power, by granting it preferential treatment in the overall energy mix. This has significantly decreased the operating hours of conventional power plants fueled with coal and gas.
In response to the tough market environment, E.ON previously pledged to sell assets, reduce investment and slash costs--including the reduction of 11,000 jobs across the company. It is also planning to close some unprofitable fossil fuel power plants across Europe, including Germany, France and the U.K.
Write to Jan Hromadko at [e-mail]
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[waldron] 29/1/2013 11:26

European Utilities Full-Year 2012 Earnings Mostly Seen Lower
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Enel (BIT:ENEL)
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Today : Tuesday 29 January 2013
By Ilan Brat
Full-year earnings for European utilities are expected to be mostly lower, with power plant outages and economic weakness in Europe dragging on power-production earnings. Operations in other markets could be a bright spot for some firms.
The focus will continue to be on efforts to strengthen balance sheets by selling assets and reducing capital expenditure.
Enel SpA (ENEL.MI)-Feb. 5, timing unknown
Enel's 2012 earnings before interest, tax, depreciation and amortization, or Ebitda, is expected to fall about 5.1% because of the recessionary drop in electricity and natural gas demand in Italy. The company's net debt is predicted to fall 6.4%, compared with the end of September. Investors will be watching for details of capital expenditure reductions and the renegotiation of natural gas supply contracts.
Iberdrola SA (IBE.MC)-Feb. 14, pre-market
Economic weakness in its home market will weigh on the Spanish utility's full-year figures, as power production continues to drop. Renewable energy will be a bright spot, as well as operations in emerging markets. Investors will be listening for comments on the impact of new energy taxes and the company's divestment program, which is a key sign of Iberdrola's ability to reduce debt.
Electricité de France SA (EDF.FR)-Feb. 14, after market close
EDF is expected to see its net profit for 2012 increase by around 50%, thanks to delayed compensation from the French government for costs previously incurred in a renewable energy subsidy scheme. Power output is expected to be a little below that of 2011, due to several planned nuclear reactor outages. Investors will be looking for a medium-term outlook and financing details of nuclear projects in the U.K.
Centrica PLC (CNA.LN)-Feb. 27, at 0700 GMT
Full-year revenue is expected to be up around 5% and Ebitda up 10%, with analysts citing growth in power and gas production, and Centrica's North American business as key drivers. Investors will be looking out for whether Centrica will invest a possible 800 million pounds of excess free cash flow on growth in the U.S., or return it to shareholders. A final decision on whether to invest in new U.K. nuclear power plants in early 2013 will be on the agenda.
CEZ AS (BAACEZ.PR)-Feb. 28, at 0700 GMT
The Czech utility may struggle to fulfill fiscal-year 2012 guidance due to higher annual financial expenses, a downward revaluation of shares it holds in Hungary's MOL Nyrt (MOL.BU), losses at its troubled Albanian unit and the decline in sale prices for electricity. The outlook for 2013 will be key, with analysts expecting flat earnings and warning of a potential write-down of billions of koruna (CZK1 billion = $52.6 million) on Albanian distribution assets. The company could benefit from the end of a temporary Czech tax on carbon emission allowances or the sale of its loss-making Albanian unit.
GDF Suez SA (GSZ.FR)-Feb. 28, before market open
Full-year net profit is seen down around 15% on lower output following nuclear outages in Belgium, a profit shortfall due to a regulated-tariff cap in France, and higher corporate taxes also in France. Investors will be looking for details of potential asset sales, on top of the EUR5 billion of divestments already agreed, and whether the company will bid for some of Spanish company Repsol's liquefied natural gas assets.
RWE (RWE.XE)-Mar. 5, pre-market
Full-year operating profit and Ebitda are expected to grow, thanks in large part to the company's fleet of coal and lignite power plants, which are benefiting from relatively low fuel and carbon costs. Investors' focus is expected to remain firmly on RWE's effort to conserve cash and reduce debt, as its asset-sale program significantly lags its EUR7 billion target for the end of 2013. This may force RWE to reduce capital expenditure or close loss-making power plants to cut debt.
(Geraldine Amiel in Paris, Liam Moloney in Rome, Cassie Werber in London, Sean Carney in Prague and Jan Hromadko in Frankfurt contributed to the story.)
-Write to Ilan Brat at [e-mail]
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[waldron] 29/1/2013 07:26

GDF-Suez consortium applies to develop 1.32 GW coal plant in TurkeyIstanbul (Platts)--28Jan2013/1226 pm EST/1726 GMT




A consortium led by French group GDF-Suez has applied to Turkey's energy regulator EPDK for a license to develop a 1.32GW power plant at Yumurtalik on Turkey's east Mediterranean coast, an EPDK spokesman told Platts Monday.

The spokesman confirmed that the application had been made by a consortium calling itself Ada Enerji consisting of GDF Suez, International Power and Mimag Enerji and that the planned plant will burn imported hard coal.

The application is not the first made to develop large plant at Yumurtalik burning imported coal.

Last week an official for Turkey's Bilgin Enerji Yatirim Holding confirmed to Platts that it had applied for a license to develop a 1,370 MW plant at Yumurtalik burning imported coal, through a subsidiary Suba Enerji Uretim.

Interest in developing coal-fired plant in Turkey has increased dramatically recently following statements by Energy Minister Taner Yildiz that Turkey has to diversify away from using imported gas to generate power and to make more of its underused domestic coal reserves, and by deputy prime minister Ali Babacan that he is planning to introduce investment incentives to encourage further development of coal-fired power plant.

--David O'Byrne, [e-mail] --Edited by Maurice Geller, [e-mail]

[waldron] 28/1/2013 12:16

MOUVEMENTS ET NIVEAUX


Le titre est orienté à la baisse. Il est sous sa moyenne mobile à 50 jours située à 15.92 EUR. La moyenne mobile à 20 jours est inférieure à la moyenne mobile à 50 jours. Notre premier support est à 14.27 EUR, puis à 14.02 EUR et la résistance est à 16.01 EUR, puis à 16.26 EUR.

Dernier cours : 15.32
Support : 14.27 / 14.02
Resistance : 16.01 / 16.26
Opinion court terme : positive
Opinion moyen terme : negative

[waldron] 27/1/2013 09:47

Barclays Capital reissued their equalweight rating on shares of GDF Suez SA (EPA: GSZ) in a research report released on Friday morning. Barclays Capital currently has a $20.00 (€15) price target on the stock.

[waldron] 27/1/2013 08:39

Graphiquement : les niveaux de résistances se situent sur : 16.3 puis 16.8. Tandis que les prochains supports sont sur : 14.9 puis 14.5.

Notre préférence : Un rebond court terme sur GDF Suez (GSZ) est possible

[waldron] 26/1/2013 07:52

25.01.2013 11:04:35Barclays belässt GDF Suez auf 'Equal Weight' - Ziel 15 EuroLONDON (dpa-AFX Analyser) - Die britische Investmentbank Barclays hat die Einstufung für GDF Suez auf "Equal Weight" mit einem Kursziel von 15,00 Euro belassen

[grupo guitarlumber] 24/1/2013 16:15

Azerbaijan, Baku, Jan. 24 /Trend/

President of Azerbaijan Ilham Aliyev has today met Vice-Chairman and President of GDF SUEZ Jean-François Cirelli in Davos, AzerTag reported.

During the meeting, they praised cooperation between GDF SUEZ and Azerbaijan.

President Ilham Aliyev and Jean-François Cirelli discussed the issues of cooperation in ensuring the supply of quality drinking water to the Azerbaijani population and improving the sewerage system in the country.

They also exchanged views on exploration of Absheron gas field, purchase and transportation of gas from Shahdaniz field.

Do you have any feedback? Contact our journalist at [e-mail]

[grupo guitarlumber] 24/1/2013 13:57

GDF Suez: GBL lance une émission d'échangeables pour réduire sa participation
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Gdf Suez (EU:GSZ)
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Today : Thursday 24 January 2013
Groupe Bruxelles Lambert (GBLB.BT) a annoncé jeudi le lancement d'une émission d'obligations échangeables en actions existantes ordinaires de GDF Suez (GSZ.FR) pour un montant d'environ 1 milliard d'euros, visant à réduire d'environ de moitié sa participation dans le groupe français de services collectifs.



"Cette émission porte sur un peu moins de la moitié des titres détenus par GBL, soit environ 54 millions d'actions GDF Suez représentant 2,3% de son capital et des droits de vote", a précisé GBL dans un communiqué. La holding belge a expliqué que cette opération lui permettrait de renforcer sa "liquidité financière".



Malgré son désengagement partiel, GBL "reste confiant dans le développement futur de GDF Suez et dans son potentiel d'appréciation boursière", a assuré Albert Frère, le CEO de la holding, cité dans un communiqué. "C'est dans cette perspective que GBL a choisi un instrument permettant de conserver une exposition significative à la hausse du titre tout en continuant de percevoir le dividende dont le niveau est particulièrement attractif", a souligné le responsable, tout en saluant la stratégie de GDF Suez et en renouvelant "sa pleine confiance" à son PDG, Gérard Mestrallet.



Le prix d'échange implicite des obligations, qui seront émises par GBL Verwaltung SA, filiale à 100% de GBL, "fera ressortir une prime d'émission comprise entre 20% et 25% par rapport au cours de référence des actions GDF Suez", a ajouté le groupe belge.



GBL devrait communiquer les modalités définitives de l'émission des obligations lors du pricing prévu ce jeudi.



Les obligations auront une maturité de quatre ans et porteront intérêt à un taux annuel compris entre 0,375% et 1,000%. "Elles seront remboursées au pair le 7 février 2017, sous réserve de l'option exerçable par GBL de remettre des actions GDF Suez aux porteurs des obligations et de payer, le cas échéant, en numéraire le solde entre la valeur des actions à livrer et le nominal des obligations", indique un communiqué financier de la holding.



Les porteurs d'obligations pourront demander l'échange de leurs titres contre des actions GDF Suez, "sous réserve de la faculté de GBL de payer en numéraire tout ou partie de la valeur des actions GDF Suez en substitution de leur échange", a précisé le groupe.



A 14h10, le titre GDF Suez gagnait 0,8% à 15,27 euros, tandis que GBL cédait 0,1% à 61,39 euros à Bruxelles.



-Eric Chalmet, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 24/1/2013 12:18

Les prix du gaz baisseront de 0,5% en février - Delphine Batho
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Gdf Suez (EU:GSZ)
Intraday Stock Chart
Today : Thursday 24 January 2013
Les prix du gaz vont baisser en février de 0,5%, a confirmé au "Monde", jeudi 24 janvier, la ministre du Développement durable, Delphine Batho.



"C'est le résultat de la réforme mise en place en décembre. Sans elle, on aurait enregistré en février une hausse de 0,15% des tarifs du gaz", a précisé la ministre.



"Le 10 décembre 2012, le gouvernement a présenté une nouvelle formule de calcul pour les tarifs réglementés du gaz", rappelle Le Monde. "Il veut ainsi enrayer la flambée des prix (+75% entre 2005 et 2012), sans avoir à en passer par des gels discrétionnaires des tarifs, pratique condamnée par le Conseil d'Etat", poursuit le quotidien.