Electricite De France Sales Up 15.1 Percent In Q1

PARIS (AP) — Nuclear energy giant Electricite de France said Tuesday that sales in the first quarter rose 15.1 percent to euro21.1 billion ($28.8 billion) after it went on an international buying spree last year.

The company said the growth was mainly driven by pricing and tariff changes outside its home market of France, and that the global economic downturn has had only a limited impact on electricity sold to industrial clients. It said higher household energy consumption in Europe during a particularly cold winter also helped business.

EdF said in a statement that sales were up to euro21.1 billion in the first quarter of 2009 from euro18.3 billion in the first quarter last year.

Quarterly sales in France rose 5.2 percent to euro11.2 billion from euro10.6 billion in 2008. Sales outside France jumped 28.7 percent to euro9.8 billion from euro7.7 billion last year, the company said.

The sales include the contribution of British Energy, which EdF bought last year for euro13.5 billion. EdF also bought half of Constellation Energy's U.S. nuclear business. Both acquisitions are part of EdF's aim to build new-generation nuclear reactors in the United States and Britain.