This is in line with EDF Group’s intention, already revealed in February 2009, to reduce its net financial debt by at least EUR5 billion by the end of 2010.
Reportedly, the sale is expected to be launched in early December this year and the company has communicated a draft timeline. The launch of sale will come after the UK energy regulator Ofgem determines the allowed returns of the distributor network operators (DNOs).
If a sale proceeds, EDF is expected to accept first-round bids around the middle of January with binding bids due by the end of the first quarter of 2010. The three power networks serve approximately 20m people in London, the east and southeast of England.
Earlier in October, the company initiated a process to evaluate ownership options for its electricity distribution business in the UK.
