The rate of return is likely to disturb the game for some

In very large consumers of electricity gathered in the Dunkirk consortium, the relief after the signing, last night, of a memorandum of understanding which outlines the conditions in which industry can supply electricity from EDF. "This was sufficiently difficult that I am satisfied that this step be taken", cowardly President of Dunkirk, Laurent Chabannes.

The memorandum of understanding - which was "stabilized" for a week and which has not been "small adjustments" at the end of negotiation - finds the phase of negotiations which was open call for tender launched last May with suppliers for the purchase of electricity in the long term. EDF and industry have partnered industrial and commercial long-term fixing conditions of volume, price and industrial risk-sharing.

According the Protocol, the needs of the industrial will thus covered "on average 55 ", for a price which, according to our information, is around 37 euros the megawatt-hour. In reality, industry may even pay a few euros less, by a trick of Mount creating a leverage effect. Minimum commitment of industry will be fifteen years, but some members of Dunkirk may commit to twenty years.

The Protocol Agreement still must be submitted to the European Commission competition authorities. In this period where the long-term contracts are not good press from the Commissioner for competition Neelie Kroes services because they block the development of competition, Laurent Chabannes said to be surrounded by all the necessary precautions. The consultations of the Commission have been regular and the partnership has he been presented "in full transparency" to the Commission. The objective of Dunkirk is to conclude in the coming weeks, the final contract with EDF and contracts with partners and banks so that the first deliveries of electricity starting in the second quarter.

While awaiting the verdict of the Commission, the members of Dunkirk may still, for the rest of their needs, conclude an agreement with Poweo-Verbund - the last supplier in the race among the answers were to the industrial. Offers of Electrabel and Enel have, been rejected, because they were not considered to be quite competitive. Dunkirk should take a decision on the offer of Poweo-Verbund "at the latest at the beginning of next week", says Laurent Chabannes. This offer is on electricity which would stem from a combined cycle gas funded in part by the industrial. For the time being, members of Dunkirk always examine the costs of production of such a solution.

Dunkirk will now apply to all those who have the right to participate in the consortium to examine their responses. The rate of return is likely to disturb the game for some. Witness, this industrial concerned by Dunkirk for one of its sites and hesitates between Dunkirk and the rate of return: "Dunkirk requires a commitment to fifteen years, which is to commit to not to close our site for fifteen years." But, in this period, the prices of our raw materials may change. Conversely, opt for the rate of return would be back to better jump because in two years, again the risk of having high electricity prices. "Unless the rate of return, say others, not be renewed at the end of this period of two years..."