EDF Expects Bids in UK Power Sale By June 21

(Reuters) – French utility EDF (EDF.PA) has set June 21 as the deadline for financed offers in the sale of its British power grids, two people familiar with the matter said on Tuesday.

The world’s largest utility by market value said earlier this month it would proceed with the sale, in which analysts say it could raise at least 4 billion pounds ($5.7 billion), provided it receives “firm offers, financed and of good quality”. [ID:nLDE64A059]

Hong Kong’s Cheung Kong Infrastructure Holdings (CKI) (1038.HK), Scottish & Southern Energy (SSE.L) and a consortium made up of Macquarie Group (MQG.AX), Canada Pension Plan and the Abu Dhabi Investment Authority are in the running for the three UK electricity distribution networks, which deliver power to more than 20 million Britons. [ID:nLDE62U1GV]

UK energy regulator Ofgem said on Tuesday it would no longer seek to reduce allowed revenue by a pre-set amount following a merger of energy networks and that instead it would set rates for companies to share cost savings with customers.

(Reporting by Quentin Webb and Greg Roumeliotis; Editing by David Holmes) ($1=.6977 Pound)