EDF Undecided on Sale of UK Energy Unit

12 January 2010 (Last Updated January 12th, 2010 18:30)

Electricite de France (EDF) is yet to decide on the sale of its UK electricity distribution business, EDF Energy, sources close to the deal have revealed. The new chief executive of French state-controlled power giant Electricite de France (EDF.FR) has yet to decide whether the company

Electricite de France (EDF) is yet to decide on the sale of its UK electricity distribution business, EDF Energy, sources close to the deal have revealed.

The new chief executive of French state-controlled power giant Electricite de France (EDF.FR) has yet to decide whether the company will push ahead with plans to sell its UK electricity distribution business EDF Energy, people close to the company told the Wall Street Journal.

In 2008, EDF Energy distributed electricity to over 8 million homes and businesses in London and across the east and southeast of England through a 182,000km network.

EDF Energy is the UK's largest electricity vendor in terms of volume of electricity distributed and regulated asset value.

The company has been studying options to sell its power distribution networks business in the UK to pay off debt.

Last year, the firm reported a net financial debt of $53.3bn (€36.8bn) accumulated over the years from acquisitions of companies such as British Energy.