Daily Management Review

Engie Declined Direct Energie Purchase As It Needs No ‘Entry Ticket Into The France Power Market’: CEO


05/10/2018


Engie, as a French power market player, feels no pressure to “split up” or to purchase Direct Energie.



Isabelle Kocher, the chief executive officer of Engie informed that the company has looked into the options of buying Direct Energie, an “independent power retailer”. However, the decision was made to not go ahead with the purchase. As Kocher added:
“We knew they were going to sell at some point ... but we did not need to buy an entry ticket into the French power market, we are already there”.
 
Total, a major French oil and gas company, has bought over Direct Energie last month, whereby posing a “major challenge” to “market leader EDF”. Moreover, Kocher also disclosed that her company has “no plans” of splitting itself up in “the manner of Germany utilities E.ON and RWE”, for she said:
“We do not feel market pressure for an operation of that kind”.
 
References:
reuters.com







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