Electricite De France Profits Fall 74% On Downturn

[interestrateripoff]

http://www.bbc.co.uk/news/business-12461618

French utility Electricite de France (EDF) has reported a 74% drop in net profit, saying demand for gas and electricity has not returned to levels seen before the economic downturn.

In 2010, EDF earned 1.02bn euros (£857m), down from 3.90bn euros the year before.

The firm said that although electricity prices were on the rise, they remained low in Europe

Not good news if we are going to use energy demand as a measure of economic activity.

[leicestersq]

They arent charging their customers enough, probably because they dont have enough power in the Market Place. If they want to volt ahead of their competitors it wont be easy, the resistance will be tough, and they will need to transform the company. This means conducting their business in totally new way. You cant have customers wondering wire they paying such high bills. They will need to generate new ideas for products and pylon the discounts available for higher value customers. They must be direct and stick to their strategy, not alternate between confused ideas. The housewife wont be happy unless they can meter expectations for service.

[_w_]

http://www.bbc.co.uk...siness-12461618

Not good news if we are going to use energy demand as a measure of economic activity.

I think the main problem is that the French government told all state companies to seriously increase employee wages to give the French economy a boost. Since those raises are not supported by increases in business profits are plunging. That's France making things worse to delay its own day of reckoning.