Under the Euro Medium Term Note Programme ... - Finance - EDF

Description of the Issuer
The EDF Group has consolidated its European presence, the mature market that forms the
foundation for its industrial presence.
EDF Group activity in Europe is based upon a will to contribute to building a single market for
both electricity and gas, encouraging the emergence of new technologies and innovative
solutions that are customised to environmental, social and economic challenges, and lastly
to respect natural and human resources, and the wishes of local stakeholder in their
concerns over energy issues and associated services.
The principal events of the year illustrating this strategy were:
- In the UK: pursing studies and investments to diversify local generating facilities;
- In Germany: the political authorities from the federated state of Baden-Württemberg,
having made their request to give EnBW a strong regional shareholder to refocus the
company’s business on Baden-Württemberg, the EDF Group accepted the state’s
offer to buyback EDF International’s stake in EnBW, which was completed on 17
February 2011;
- In Italy: on 26 December 2011, EDF, Edison, Delmi, A2A and Iren concluded a
preliminary agreement concerning reorganising Edison’s and Edipower’s shareholder
structures. This agreement of 24 January 2012 was approved by EDF’s Board of
Directors and was finalised and signed by all the parties concerned on 15 February
2012 giving EDF exclusive control of Edison and thus reinforcing the EDF Group’s
gas strategy and consolidating its position as pivotal player in Italy;
- In Poland: the launch of the construction project for a 900 MW supercritical coal-fired
power plant.
The EDF Group’s ambitions in Europe
The EDF Group aims to consolidate the coherent industrial group it has in Europe through
organic growth and realising synergies at EDF Group level. It will review any new opportunity
of profitable development in Europe, which is its core market.
In addition, the EDF Group intends to continue building its gas positions that are necessary
to its ambition of becoming an active provider in both the gas and electricity sectors in
Europe in order to secure provision of a multi-energy offer for its customers and to ensure
competitive supply of the EDF Group’s electricity generation means through the use of gas.
The EDF Group is also realising operational synergies among its various entities in France
and Europe through the following actions:
- improving operational performance by sharing best practices observed within the
EDF Group;
- using the opportunity of the various subsidiaries’ generation assets construction
projects in order to standardise the design and to group the orders placed with
equipment manufacturers; coordinating gas supplies and investments in order to
further the EDF Group’s ambitions in the gas market;
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