Profits down at EDF Energy

摘要

Profits at EDF Energy, EDF's UK division, fell 2.2% on the back of rising costs in the first half of the year (compared with the same period last year).rnThe company has announced half yearly EBITDA of £428 million (down from £437 million for the same period the year before) although sales rose 9.3% to £2,993 million on the back of electricity and gas tariff increases in the second half of 2006. This sales growth includes a 2% foreign exchange effect associated with the rise in value of Sterling.rnThe mild weather hit sales volumes (for both regulated and unregulated activities) which were down by 1.3%. EDF says that the resulting long positions in a declining market eroded margins - especially on natural gas. The company saw fuel and energy purchase costs rise 6.6% to £1,850 million despite paying less for carbon allowances.