Edison not for sale, reviewing options on gas storage, CEO says (updated)

Electricite de France SA

18/04/2023 13:01

(Adds CEO quote, details on business plan for retail business)
    By Giancarlo Navach
       MILAN, April 18 (Reuters) - Energy group Edison
 EDNn.MI  is not for sale, the chief executive of the Italian
unit of French utility EDF  EDF.PA  said on Tuesday, adding the
value of the unit could be well above 7-8 billion euros
($7.9-$8.8 billion) calculated by analysts.
    Answering a question over the potential sale of the
company's gas storage business, Edison CEO Nicola Monti said the
Italian group was considering strategic options for it. 
    "I think the intrinsic value (of Edison) goes far beyond
these figures of 7-8 billion," Monti said at a presentation of
the group's business plan for its retail unit, adding Edison had
invested significantly to boost its growth. 
    "We have sown a lot in the past on renewables, gas supply...
With this year's budget, after the pandemic, I think we will see
interesting numbers on the income statement that will represent
the true value of the company".
    On the plan for its retail unit Edison Energia, the Italian
group said it aims to double its customers for gas and
electricity to 4 million by 2030.
    "The 4 million contract target will mainly be reached
through organic growth, but also with potential acquisition of
large and small companies," the group said in a statement.
    Edison, which is Italy's second-largest gas supplier with
6.6 billion cubic metres (bcm) sales recorded last year, also
intends to consolidate its role in electric mobility.
    Edison Energia plans to install more than 100,000 recharging
points by 2030 and supply 8% of the electricity used for
electric cars in Italy. 
    It will also offer liquefied natural gas (LNG), methane and
progressively more biomethane for clients who want to switch
from fossil fuels.
($1 = 0.9117 euros)

 (Reporting by Giancarlo Navach; writing by Francesca Landini,
editing by Cristina Carlevaro and Emelia Sithole-Matarise)
 ((francesca.landini@thomsonreuters.com; +39 02 66129437;
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))