CORRECT: INTERVIEW: EDF CFO: No Provisions After Constellation Deal

The $250 million agreement between French state-controlled power behemoth Electricite de France SA (EDF.FR) and U.S.-based energy group Constellation Energy Group (CEG) restructuring their nuclear partnership won't lead to any potential provisions, EDF's Chief Financial Officer Thomas Piquemal said Wednesday in an interview with Dow Jones Newswires.

"This agreement doesn't lead to any further provisioning," Piquemal said.

Early Wednesday, EDF and Constellation said they agreed to end a joint venture to develop nuclear power plants after the relationship soured in recent months.

Under the terms of the agreement, EDF will acquire Constellation's 50% ownership of UniStar for $140 million. Upon completion of the transaction, EDF will be the sole owner of UniStar.

Also, EDF will transfer to Constellation 3.5 million of the shares worth about $110 million and will relinquish its seat on the Constellation board. Constellation will terminate its rights under an existing put option under which EDF would have been required to buy 12 power plants--most of them coal-fired--from Constellation for as much as $2 billion.

Asked if EDF intended to pursue the development of nuclear plants alone in the U.S., EDF CFO said the group was "determined to keep studying" nuclear development prospects in the U.S., and wouldn't elaborate further.

Web site: www.edf.com

- By Geraldine Amiel, Dow Jones Newswires; +33 1 40171767; geraldine.amiel@dowjones.com;

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