By Giulia Petroni 
 

Electricite de France SA's (EDF.FR) shares rose on Friday following media reports of a government reform of the Arenh nuclear market scheme that would benefit the utility.

A reform of the scheme, which sets the rate at which state-controlled EDF sells nuclear output to its competitors in France, would consist of a price range, according to media reports. The price ceiling and floor levels would still have to be defined, but they would allow EDF to cover its complete nuclear costs.

At 1354 GMT, EDF traded 9% higher at EUR11.05 a share.

According to French media outlet Le Figaro, the French government would want to implement the reformed scheme by 2026 at the latest.

This week, Morgan Stanley said in a research note that such a reform could be strongly positive for EDF.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 17, 2020 09:21 ET (14:21 GMT)