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EDF says Q4 sales rise 3.8% on higher prices

Electricite de France, Europe's biggest power generator, said Q4 revenue rose 3.8% as it benefited from higher regulated power prices.

Sales rose to €16.2 billion ($21.1 billion) from €15.6 billion in the year-earlier period, the company said in an e-mailed statement. Analysts expected €15.2 billion, according to the median estimate in a Bloomberg News survey. Electricite de France, the operator of France's 58 nuclear power plants, won a 1.7% increase in regulated power prices in France starting August 15 and raised UK household prices by 8% in July.

France is the utility's largest market, at almost four times the size of Britain, the next-largest. Revenue will be „driven higher by regulated tariff increases and commercial contract price rises,” Goldman Sachs said in a report published before the figures were announced. EDF said Q4 sales in the UK jumped 22% to €2.6 billion, German sales rose by 13.4% to €1.66 billion and Italian sales increased 5% €1.35 billion.

EDF had the slowest growth in its home French market, where sales climbed by 3.8% to €9 billion. France accounts for more than half of its revenue. Paris-based EDF said 2006 sales rose 15% to €58.9 billion. EDF reports earnings on February 21. (Bloomberg)