Updates: last update's detail

RTE's results for 2004

Source: RTE 31/03/2005

2004 proved to be a crucial year, which culminated with RTE unveiling highly encouraging technical and financial results.

The company posted net profits totalling 347M, an increase of more than 25% compared with 2003 (276M), with ROCE of 8%. RTE's ROE grew to 8.4%.
Despite the rise in energy prices, operating expenses, including costs incurred due to loss purchases, were kept under control.

RTE's financial results for 2004 reflect its commitment to improving performance, whilst cutting costs.

The satisfaction survey conducted on RTE customers revealed that the rate of satisfaction rose substantially in 2004, and now stands at around 95%.
The process of opening up the French electricity market to more than 2.5 million professional customers, which began on 1 July 2004, has gone smoothly. Work to adapt information systems and metering procedures has been carried out jointly with the distribution system operators, enabling all customers to change suppliers with no major technical difficulties.
Similarly, the tools introduced by RTE for promoting the market dynamic have proved to be extremely effective. The volumes traded on the Powernext electricity exchange, which was opened in November 2001, almost doubled in the space of a year to reach 14 TWh by the end of 2004.

The volume of energy exchanged across national borders (imports and exports) rose from 113 TWh in 2003 to 119 TWh in 2004, a sign of the increasingly dynamic European market.

All these positive results are based on RTE's ability to develop its infrastructures to support sustained growth in French electricity consumption (which rose by 10 TWh in 2004).

In France, RTE installed new capacitors in Brittany, enabling the network to cope with the consumption peaks seen last December. Meanwhile, the Amiens-Arras line was completed to secure supply to the Nord-Pas-de-Calais and Picardy regions. In 2004, RTE launched the initial study phase prior to construction of the line which will eventually transport the electricity produced by the EPR to be built in Flamanville, from 2012. All these initiatives are part of an approach based on closer consultation with the parties concerned, and include environmental requirements.
RTE's efforts to promote cross-border electricity exchanges and solve congestion problems are also beginning to produce results. A system of auctions for selling available capacities with Italy was introduced in late 2004. In addition, work has begun to reinforce network infrastructures and double exchange capacities with Belgium, as part of increased cooperation across France's Northern borders.

In preparation for its transformation into a limited liability company under the Law of August 2004, RTE has adopted a new business project for the period 2004-2006. The project has been designed to reflect the dynamics of the European electricity market and maintains core public service values of technical excellence at the service of all.

The crucial period 2004-2005 marks a new beginning for RTE.

Consult the press kit in our "News" section.

Press contacts:
Michel Derdevet: +33 (0)682 594 587 or +33 (0)141 021 973
Thierry Lartigau: +33 (0)623 678 393 or +33 (0)141 021 678
Isabelle Coutier: +33 (0)661 229 432 or +33 (0)141 021 569