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March 27, 2015 10:10 AM ET

Electric Utilities

Company Overview of GDF SUEZ Energy North America, Inc.

Company Overview

GDF SUEZ Energy North America, Inc. is engaged in energy business in the United States, Mexico, and Canada. Its activities include electricity generation and cogeneration; natural gas and liquefied natural gas distribution and sales; and retail energy sales and related services to commercial and industrial customers. The company owns and operates cogeneration, steam, and chilled water facilities; renewable fuels—wind, hydro, biomass, and solar—power facilities; and natural gas assets, which include an LNG receiving terminal in north of Boston, Massachusetts; and natural gas distribution networks and pipelines in Mexico. GDF SUEZ Energy North America, Inc. was formerly known as SUEZ Energy No...

1990 Post Oak Boulevard

Suite 1900

Houston, TX 77056-3831

United States

Founded in 1981

Phone:

713-636-0000

Fax:

713-636-1364

Key Executives for GDF SUEZ Energy North America, Inc.

Chief Executive Officer and President
Age: 56
Chief Financial Officer
Senior Vice President of Business Development, Chief Executive Officer of GDF SUEZ Energy Resources NA and President of GDF SUEZ Energy Resources NA
Chief Executive Officer of Suez Energy International
Age: 66
Chief Executive Officer of Suez Energy Generation Na, Chief Executive Officer of Suez Energía De México, President of Suez Energía De México and President of Suez Energy Generation Na
Age: 54
Compensation as of Fiscal Year 2014.

GDF SUEZ Energy North America, Inc. Key Developments

GDF SUEZ Announces Consolidated Earnings Results for the Year Ended December 2014

GDF SUEZ announced consolidated earnings results for the year ended December 2014. For the year, the company reported revenues of EUR 74,686 million are in decrease of 6.6% compared to 2013 and in organic decrease of 7.2%. This decrease is mainly due to the impact of climatic conditions on sales of natural gas in France and lower electricity market prices in Europe. Group EBITDA, which amounted to EUR 12,138 million, was down 6.7% (gross) and 4.2% (organic decrease). Net recurring income, group share, at EUR 3.1 billion, is in decrease by EUR 0.3 billion compared to December 31, 2013. The decline in current operating income after share in net income of entities accounted for using the equity method was largely offset by lower recurring financial expenses. Net debt reached EUR 27.5 billion at the end of December 2014, down by EUR 1.3 billion compared to end December 2013, reflecting the items of cash generated from operations before income tax and working capital requirements for the year and the issue of hybrid notes by GDF SUEZ SA at the beginning of June, decreased by the change in working capital requirements, net capex carried out by the group as well as dividends paid to GDF SUEZ SA shareholders and to minority shareholders of certain subsidiaries. The change in working capital requirements is penalized to the extent of EUR 1.2 billion by the impact of commodity price evolution on margin calls, expected to be temporary and to reverse at the expiry of transactions between 2015 and 2016. Current operating income after share in net income of entities accounted for using the equity method was EUR 7,161 million compared to EUR 7,665 million a year ago. Income from operating activities was EUR 6,574 million compared to EUR 7,124 million a year ago. Net income group share was EUR 2,440 million compared to net loss group share of EUR 9,646 million a year ago. Cash flow from operating activities was EUR 8,751 million compared to EUR 11,333 million a year ago. Net tangible and intangible investments were EUR 5,790 million compared to EUR 5,938 million a year ago.

GDF SUEZ Energy North America, Inc. Presents at 2nd LatAm Oil & Gas Summit, Sep-10-2014

GDF SUEZ Energy North America, Inc. Presents at 2nd LatAm Oil & Gas Summit, Sep-10-2014 . Venue: The Westin Galleria Houston, 5060 w Alabama St, Houston, Texas, United States. Speakers: Armando Aguilera Deza, Director of business development.

Electric Reliability Council of Texas Inc. Files Claim against GDF SUEZ Energy North America, Inc

Two trading firms active in the Electric Reliability Council of Texas Inc. market filed a complaint against GDF SUEZ Energy North America Inc., claiming they lost millions of dollars because GDF SUEZ intentionally withheld power from its generating resources to drive up real-time prices. In their complaint filed April 22 in the U.S. District Court of the Southern District of Texas, Houston Division, trading firms Aspire Commodities LP and Raiden Commodities LP allege that the GDF Suez SA subsidiary intentionally withheld generation during times of tight power supply then dumped its electricity at "the artificially high price it created to make excessive, artificial profits not supported by genuine supply and demand." Seeking a jury trial and unspecified compensation for damages for GDF SUEZ's alleged violation of the Commodities Exchange Act, the complaint maintains that GDF SUEZ's intentional withholding also was done to manipulate the price of financial forward contracts traded on commodity exchanges, "allowing GDF SUEZ to uniquely predict where the commodities markets will go on days of its intentional withholding, and allowing it a unique profit opportunity not available to the public." One economic withholding scheme pulled by GDF SUEZ, the lawsuit claims, involves the company shifting its offer curve upward above ERCOT's existing locational marginal price, or LMP, during times of tight supply and when the LMP exceeded its marginal costs.

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