Key figures

As of 31 December 2007, we were the leading electricity distributor in the UK (by volume of electricity distributed and regulated asset value). We were the number five electricity supplier (by TWh sold).

We are also a significant electricity generator, with a nameplate capacity (excluding PPAs) of 4.9 GW.

During 2007, we distributed electricity to more than 7.9 million homes and businesses in London and the east and south-east of England, over a network of 181,000 kilometres. We supplied 52.4 TWh of electricity and 28.7 TWh of gas. At the close of the year, our 5.5 million customers accounts included domestic energy users, small and medium sized enterprises and major businesses.

Our sales for the year were £5,744 million. We employed 13,158 people (FTE).

(1) The exchange rates applied to the balance sheet are £1 per 1.4892 in 2006 and per €1.3636 in 2007 and for the figures in the income statement, 1 per €1.4665 in 2006 and per €1.4550 in 2007.

(2) EDF Energy contributions to EDF consolidated financial statements.

For further financial information on EDF Energy please see our statutory accounts for the year ended 31 December 2006. These are available through the related download and will be replaced by our 2007 statutory accounts once they are available.

EDF Energy, Balfour Beatty plc, Bombardier Inc, Thames Water plc and WS Atkins plc, were each 20% shareholders of the Metronet Consortium. Under two 30-year Public-Private Partnership (PPP) contracts with London Underground (LUL), Metronet was to renew and upgrade two thirds of the Underground Network’s Infrastructure.

The initial estimated CAPEX cost of the project was in the range of £ 5.7bn for the first seven and a half year. However early 2007 adjusted projections from Metronet indicated that its costs exceed revenue projections by up to £2.0bn. Most of this cost overrun could be explained, from Metronet’s standpoint, because of changes in specifications and scope from LUL. On the other hand LUL argued that in some fields the Metronet consortium had not been as efficient as it should have been.

To resolve this issue, a process of arbitration was started as planned by the contracts in such a case. However this process was unsuccessful to find a way to bridge the financing gap at hand and as a result Metronet’s shareholders had to notify that they could not continue to fund the cash shortfall and would request London Underground to appoint an Administrator.

Metronet went into PPP Administration on 18th July 2007 as a result of this liquidity crisis and from 30th August 2007 each of the contracts between Trans4m, Metronet and EDF Energy’s sub-contract with Trans4m were all terminated.

At the request of London Underground and Metronet, EDF Energy entered into a Secondment Agreement with Metronet with effect from 30th August 2007 to second those EDF Energy staff who had been involved in the project to Metronet.  This contract will end in the first half of 2008

Negotiations are still ongoing between the various parties to terminate all contractual links and liabilities.

All electricity suppliers are required to publish information on the generation sources of the electricity provided to their customers. This table shows how the energy used by our residential and business customers from April 2006 to March 2007 was generated: