Tuesday, February 15, 2011

Provisions Hit EDF's Profit

BY GERALDINE AMIEL
PARIS—Électricité de France SA on Tuesday posted a 74% drop in 2010 net profit due to provisions linked to the deterioration in international power and gas-market conditions. The French state-controlled power giant said net profit dropped to €1.02 billion ($1.38 billion) from €3.92 billion a year earlier due to exceptional provisions. Profit from ordinary operations stood at €3.96 billion. Still, revenue increased 10.2% to €65.17 billion, from

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