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Business 2007 P11



Suez's Electrabel buys Tractebel for €18.2 bn: report
French utility Suez's unit Electrabel has bought energy consultancy Suez-Tractebel for €18.2 bn ($25.2 bn), according to French newspaper daily Le Soir.

Constellation Energy and EDF form joint venture
Constellation Energy and EDF have announced a strategic joint venture focused on the potential development and deployment of the first fleet of new nuclear power plants in the United States and Canada in nearly three decades.

French government to take its time over GDF-Suez merger
Although the French government is planning to take its time to deliberate over the planned merger of domestic utilities Suez and Gaz de France, industry rumours suggesting that this could take up to six months have been quashed by a government spokesman.

Switzerland's Atel to invest in Norwegian hydro plants
Swiss utility Atel has revealed that it is planning to invest CHF 200m ($166.3m) in small hydro power stations in Norway over the next seven years.

New ANS president takes office
Donald C. Hintz, a nuclear industry leader from Mississippi, became president of the American Nuclear Society on June 28 at their annual meeting in Boston.

Edison to create Greek joint venture with Hellenic Petroleum
European utility Edison's board of directors has authorized the signing of a memorandum of agreement with Greek hydrocarbon player Hellenic Petroleum, which establishes guidelines for the creation of a 50:50 joint venture to operate in the Greek electric power market.

Gazprom may buy majority stake in Russia's largest power retailer
A growing number of media reports are suggesting that the Russian gas monopoly Gazprom is interested in acquiring a 51 per cent stake in domestic power supplier Mosenergosbyt, which is currently owned by RAO United Energy System. This is according to a report from the Russian news agency RIA Novosti.

European carbon exchange passes exceeds 1bn tonnes mark
The European Climate Exchange (ECX) announced yesterday that the total carbon dioxide EU Allowances (EUAs) passed the1bn tonnes mark. The total volume figure was divided into 988.9m tonnes in futures contracts and 12.5m tonnes in options contracts.

Clyde Bergemann Power Group acquires Delta Ducon in the U.S.
Delta Ducon will be integrated as Clyde Bergemann Delta Ducon (CBDD) into the Clyde Bergemann Power Group Americas, an organizational unit of the Clyde Bergemann Power Group serving the markets in North and South America.

Iberdrola and IBM in $84.4m innovation agreement
Iberdrola and IBM have entered into an $84.4m agreement that will promote IT innovation in Spain.

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