Electricite de France SA (EDF.FR) said Tuesday that it will consider appealing a court ruling backing a decision by the European Commission ordering the recovery of French government aid from the company.
The utility is mulling submitting the appeal to the Court of Justice of the European Union after the General Court of the European Union supported the commission's 2015 decision to make EDF repay the aid.
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The commission adopted an initial decision to this end in December 2003, qualifying as state aid the tax treatment for provisions created between 1987 and 1996 for updating the French utilities network Reseau d'Alimentation Generale. The decision was overruled by the Court of Justice and the commission reopened an inquiry into the subject.
In July 2015, it issued a new order stipulating that the funds be recovered by the French state. EDF repaid 1.38 billion euros ($1.68 billion)--corresponding to the amount of state aid received plus interest--in October 2015, but still appealed the decision.
Given the repayment, the latest ruling doesn't imply that EDF owes any additional outstanding payment, the company said.
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(END) Dow Jones Newswires
January 16, 2018 10:49 ET (15:49 GMT)