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Electricity producer EDF agrees to cut power prices for France's biggest industrial consumers

6:37 AM MDT | July 23, 2014 | Ian Young

State-controlled electricity generator and supplier EDF (Paris) has signed a memorandum of understanding (MoU) with Exeltium, a consortium of France's biggest industrial electricity consumers, under which EDF will adjust its long-term supply contract with Exeltium's members, cutting power prices and making the contract more responsive to developments in the electricity market. The deal follows an "unexpected drop of market prices" for electricity that has made the current EDF-Exeltium contract price too expensive and it "will allow the...

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