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New EDF Boss Would Dump Constellation     29-Oct-09 03:36 pm    
EDF Group, parent of Electricite de France and partner of Constellation Energy in an expanded joint venture and proposal to build a third nuclear reactor at Maryland's Calvert Cliffs, has a new boss. Henri Proglio is his name. People have been wondering whether he would take a different approach to EDF's expanded partnership with Constellation, which is under review at the Maryland Public Service Commission.

Now Thibaut Madelin, energy correspondent for Les Echos, is stating as a fact, without offering any evidence, that Proglio wants to dump Constellation.

In a piece about Proglio's appearance before the French economic affairs legislative commitee, Madelin says Proglio "would like... to exit a proposed joint venture with the American Constellation." Lower down in the piece Madelin says this:

Henri Proglio, who would like to make the group's French operations transparent to determine the true cost of nuclear development, seems at any rate ready for strategic change. He wonders about the proposal to buy 50 percent of the nuclear assets of the American Constellation. An exit could be delivered on a plate in coming days with the pending decision of the Maryland public service commission. This would allow the operation under certain conditions. Henri Proglio is free to accept them or not.

Without any on-the-record evidence from Proglio or EDF, I would treat the report cautiously. Still, Les Echos has been ahead of the curve and correct on previous EDF developments

This originates from Jay Hancock's blog at the Baltimore Sun.
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  Subject Author Rating Time of Post (ET)  
 
New EDF Boss Would Dump Constellation
erinpatrick... (1 Rating) 29-Oct-09 03:36 pm  
 
Does CEG have enough liquidity now that they don't...
effend (1 Rating) 30-Oct-09 08:13 am  
 
That is a good question. Many have argued th...
erinpatrick... Rate it 30-Oct-09 08:45 am  
 
It looks like the order is out. Still tr...
boutrosbout... Rate it 30-Oct-09 12:14 pm  
 
Approved (with conditions). ...
boutrosbout... (1 Rating) 30-Oct-09 12:17 pm  
 
PSC conditions. 1) BGE must p...
boutrosbout... (1 Rating) 30-Oct-09 12:24 pm  
 
I would expect CEG to fol...
defpotecwor... (2 Ratings) 31-Oct-09 06:38 pm  
 
I find it interestin...
mrmagnanimo... (1 Rating) 31-Oct-09 10:24 pm  
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Constellation Energy Group, Inc. (CEG)

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