Résultats

This situation may possibly generate local imbalances, or disputes if Enedis must disconnect certain producers or connect them with significant delays. Lastly, to achieve its objectives, EDF must adapt its marketing expenditures; this situation could have negatively impacted its profitability. or in any other Member State of the European Economic Area (the" EEA") where this Base Prospectus has been notified to the competent authority in that Member State in accordance with the Directive 2003 / 71 /

This situation may possibly generate local imbalances, or disputes if Enedis must disconnect certain producers or connect them with significant delays... The Group remains vigilant, particularly with regard to industrial counterparties that could be weakened by this downturn in the economic situation.

New investments may be required in these regions, with the risk that the costs associated therewith may not be taken into account. before the Appendices. EDF l Reference Document 2014 l 3 Table of Contents 1 1 1 1 2 Person responsible Person responsible for the Reference Document Certification from the person responsible for the Reference Document containing the annual financial report 6 6 9 2 9 3 9 4 9 5 Economic environment and significant events of 2014 Analysis of the business and the consolidated income statements for 2013 and 2014 Cash flows and net indebtedness Management and control of market risks Information under article L.

Any event negatively affecting the nuclear business is likely to have greater consequences for the EDF Group' s' image, activities, productivity, financial situation and results, than for those of its competitors, which generate proportionally less electricity from this source of energy... This may limit the EDF Group' s' ability to implement defined strategies and may have a material adverse effect on its business, financial situation and prospects.

Any event negatively affecting the nuclear business is likely to have greater consequences for the EDF Group' s' image, activities, productivity, financial situation and results, than for those of its competitors, which generate proportionally less electricity from this source of energy... This may limit the EDF Group' s' ability to implement defined strategies and may have a material adverse effect on its business, financial situation and prospects.

This situation limits exchange capacity between operators in different countries. or in any other Member State of the European Economic Area" (EEA") where this Base Prospectus has been notified to the competent authority in that Member State in accordance with the Directive 2003 / 71 /... No action- 3- has been taken by the Issuer, the Dealers or the Arranger which would permit a public offering of any Notes or distribution of this Base Prospectus in any such jurisdiction where action for that purpose is required.

Any event negatively affecting the nuclear business is likely to have greater consequences for the EDF Group' s' activities, productivity, financial situation and results, than for those of its competitors, which generate proportionally less electricity from this source of energy... This may have a negative impact on the EDF Group' s financial results, financial situation and prospects.

Any event negatively affecting the nuclear business is likely to have greater consequences for the EDF Group' s' image, activities, productivity, financial situation and results, than for those of its competitors, which generate proportionally less electricity from this source of energy... This may have a negative impact on the EDF Group' s financial results, financial situation and outlook.

Any event negatively affecting the nuclear business is likely to have greater consequences for the EDF Group' s' activities, productivity, financial situation and results, than for those of its competitors, which generate proportionally less electricity from this source of energy... This may have a negative impact on the EDF Group' s financial results, financial situation and prospects.

or in any other Member State of the European Economic Area" (EEA") where this Base Prospectus has been notified to the competent authority in that Member State in accordance with the Directive 2003 / 71 /... No action- 3- has been taken by the Issuer, the Dealers or the Arranger which would permit a public offering of any Notes or distribution of this Base Prospectus in any such jurisdiction where action for that purpose is required.