Bloomberg: EDF Renegotiates Edison’s Natural-Gas Contracts to Italy

Electricite de France SA is renegotiating Edison SpA’s natural-gas import contracts to Italy, according to Chief Financial Officer Thomas Piquemal.

“There are considerable stakes for the group” attached to these talks, he said on a conference call today. Deals with Qatar and Libya could be reached before the end of the year while talks with Algeria may end next year, he said.

New import contracts could give the Italian power producer an extra 600 million euros ($737 million) in earnings, according to a 2012 forecast, Piquemal confirmed. Edison renegotiated long-term import deals with Russia and Norway last year.  MORE