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When Entergy Corp. acquired London Electricity in early 1997 for $2.1 billion, the New Orleans utility didn`t expect it would sell the British distributor two years later. But that`s precisely what happened in early December, with Entergy turning a tidy $860 million profit.
The United States and France have had a long history of alliance. In that spirit, Electricité de France (EdF) and Pennsylvania Power & Light Co. (PP&L) have formed a partnership for economic development and community affairs. Eleven executives recently visited Central Eastern Pennsylvania to meet with PP&L economic and community development professionals, as well as community leaders, and to tour industrial sites.
The old continent of Europe has under gone, and is still under going, dramatic changes in the political, economic and technical arena in the last few years. The fall of Communism, bringing with it newly developing market economies and the reunification of Germany, is affecting the present and future economic picture. The conflict in the Balkans and its ongoing settlement, as well as an uncertain outlook for Russia, are all impacting the economic situation in general and electric utilities in par