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Vincent de Rivaz, CEO of new combined company, announces executive team with Bill Coley to continue to head British Energy
EDF Energy today announces the first steps in its integration with British Energy. It follows the appointment of Vincent de Rivaz as Chief Executive of the new, enlarged organisation by the EDF Group Chairman and CEO, Pierre Gadonneix.
A new structure and executive team has been announced today to deliver the shared vision for the new combined company under the name of EDF Energy.
The integration will reinforce EDF Energy's business strategy in the UK and strengthen its position as a leading generator, supplier and distributor of low carbon energy.
It will bring forward EDF's plans to build four new EPR nuclear reactors in the UK by combining its experience as the world's largest nuclear operator with British Energy's unparalleled expertise in the UK and its access to new build sites.
The new Executive brings together management expertise from different parts of the Group including EDF in France and EnBW in Germany as well as British Energy and the existing operation in the UK.
Bill Coley will play a key role in the new organisation as Chief Executive Officer of British Energy, reporting to Vincent de Rivaz. This will help to ensure that the expertise of British Energy's employees is brought effectively into the new company through a stable and orderly transition.
Vincent de Rivaz, CEO of EDF Energy, said:
"Today, we have taken the first steps towards creating a strong integrated company in the UK which will play a key role in ensuring the country has secure, affordable and clean energy supplies.
"This combination with British Energy is a significant milestone which reinforces EDF Energy's strategy as a vertically integrated energy company with leading roles in generation, distribution and supply of energy.
"Together we are the largest electricity generator in the UK, with the lowest carbon emissions per unit of electricity of any major generator. This will reduce our exposure to short-term movements of gas and coal prices and will put us in a strong position to grow our customer base.
"I am delighted to welcome British Energy and its employees into the EDF family. We will combine the expertise and professionalism of both our organisations with a focus on the continued safe operation of the enlarged company. Our shared vision is to build a new organisation which draws on the unrivalled experience of both EDF and British Energy.
"This deal is also a key step in EDF's strategy to play a leading role in the global nuclear revival, in securing a bright future for British Energy and its employees and in bringing forward the new nuclear build in the UK.
"We can now move forward with our plans to build four new EPRs by 2025. Together we have the expertise, financial capacity, suitable sites and determination to deliver these, with the first operational by the end of 2017.
"The huge investment we will now make to deliver new nuclear is good news for UK workers because it will create significant employment opportunities over the coming years. It is also good news for our domestic and business customers who want us to deliver clean, secure and affordable energy."
The new combined company will have four business units led by Managing Directors:
Existing Nuclear - Bill Coley (Currently, and remaining, CEO, British Energy)
Nuclear New Build - Humphrey Cadoux-Hudson (currently CFO, EDF Energy)
Energy Sourcing and Customer Supply - Martin Lawrence (currently COO Energy Branch, EDF Energy)
Networks - Laurent Ferrari (unchanged)
To help to drive and guide the new combined business there will also be two strong steering functions:
Chief Officer Finance - Thomas Kusterer (currently Senior Vice President, Finance, EnBW)
Chief Officer, People, Organisation and Brand Performance - Eva Eisenschimmel (currently COO, Customers Branch EDF Energy)
There will also be three further Executive members covering Corporate Functions:
Strategy and Regulation Director - Paul Spence (currently Head of Strategy, British Energy)
Nuclear Senior Advisor and Group Nuclear Synergies Officer - Goulven Graillat (currently Head of Economics and Industrial Strategy Department in EDF Generation Branch)
Integration Coordination Director - Peter Hofman (unchanged)
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