4°: Capital financing of long-term electricity supply companies

The authorisation provided for in Article 238 bis HV is issued by the Minister responsible for the budget, after obtaining the opinion of the Minister responsible for energy, to joint stock companies whose purpose is to conclude long-term electricity supply contracts with electricity producers for the benefit of members of the said companies who meet the conditions set out below. These contracts reserve electricity consumption rights that cannot be exercised for a period of less than fifteen years.

Authorisation can only be granted if the long-term electricity supply contracts are concluded either with Électricité de France or with other electricity producers. In the latter case, the producer who is established, together with his means of production, on the territory of a Member State of the European Union or established, under international agreements, on the territory of another State may only offer a supply of electricity produced from renewable sources.

Shares in the approved company may only be subscribed by companies carrying out an industrial activity and eligible within the meaning of Article L. 331-2 of the Energy Code, provided that, for the last financial year ended before the company entered into its first long-term supply contract, the ratio between the quantity of electricity consumed and the added value produced as defined in Articles 1586 ter to 1586 sexies be superior to two and a half kilowatt-hours per euro.

Consumption rights are assigned pursuant to Article L. 333-1 of the aforementioned code.

The consumption rights acquired by a member are exercised, over the term of the contract, in the form of constant power and are limited in volume to the consumption of its sites which individually verify, in respect of the last financial year ended before the company entered into its first long-term supply contract, the following cumulative conditions:

a. The site's annual electricity consumption during off-peak hours, i.e. between 8 p.m. and 8 a.m. on weekdays, as well as on Saturdays and Sundays, represents at least 55% of total annual electricity consumption;

b. The ratio between the energy consumed below the power referred to in the fifth paragraph of this article and this power may not be less than 8,000 hours, excluding exceptional shutdowns and maintenance periods;

c. (Repealed).

The shares subscribed for must be in registered form. The amount of authorised capital is limited to €600,000.