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EDF Terminates Arenh Contracts With 3 Energy Suppliers

French electric utility EDF (EDFEF.PK) said it has notified three energy suppliers of the termination of their Arenh contracts.

The company has terminated the contracts linking it with the Alpiq, Gazel and Total Direct Energie power suppliers. The decision is as provided for in the contracts when an interruption occurs for a period of over two months.

The company noted that Covid-19 health crisis and the emergency measures introduced by public authorities on March 17 led to a decline in electricity consumption by non-residential clients, impacting all market players, including EDF.

Due to this, some suppliers decided to revoke their contractual commitments citing force majeure to reduce the volumes bought last November as part of the Arenh contract.

In May, Paris Commercial Court, in a ruling, considered that the conditions for force majeure regarding the Arenh contracts with Alpiq, Gazel and Total Direct Energie, were fulfilled since the introduction of emergency measures by the government. This leads to the termination of the Arenh contracts for these suppliers.

EDF said it firmly rejects the existence of force majeure conditions relative to the Arenh contracts and has filed an appeal with the Paris appeals court.

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