At its meeting today, the Supervisory Board of EnBW Energie Baden-Württemberg AG appointed Christian Buchel (45) Chief Operating Officer (COO) and member of the EnBW Board of Management effective February 1, 2009 for a three-year term of office. Christian Buchel is currently Directeur Général of the publicly listed company Electricité de Strasbourg. Mr. Buchel succeeds Pierre Lederer who - as announced previously - stepped down from his office effective Januar 31, 2009 at the same meeting. Mr. Lederer is leaving the company of his own volition to take up a new position as Senior Executive Vice-President, Customers, at Electricité de France (EDF).
Edison's Board of Directors met today at the Company's Foro Buonaparte headquarters to review the Semiannual Report at June 30, 2008.
Edison has made a new, significant gas discovery in the Sicilian Strait, with the Cassiopea 1 well, about 22 km off the coast.
EnBW Energie Baden-Württemberg AG will acquire 26% of the share capital in EWE AG with registered offices in Oldenburg. EWE AG is one of the largest German energy companies, with some 4,700 employees and group revenue of 4.7 billion euros generated in the fiscal year 2007.
Edison and Hellenic Petroleum, Greece's largest hydrocarbon company and the country's top independent electric power operator, today signed agreements establishing a 50-50 joint venture to operate in Greece's electric power market.
Edison's Board of Directors met today at the Company's Foro Buonaparte headquarters to review the Quarterly Report at March 31, 2008. Edison's revenues were up 12.1% in the first quarter of 2008 thanks to higher sales volumes, reported by both the electric power operations (+4.3%) and the hydrocarbons operations (+9.9%), and to an increase in unit revenues made possible by favorable conditions in the benchmark macroeconomic scenario, characterized by growing demand for energy and rising princes for petroleum products.
EnBW Energie Baden-Württemberg AG started the fiscal year 2008 with an increase in revenue of 8.7 percent. In the first quarter of 2008, EnBW raised its revenue to 4,411.1 million euros.
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