Electricité de France, the state-owned French electricity company, is planning to float off London Electricity and EDF International, which controls its international operations, to raise acquisition currency, in a move which could be the first step to the IPO of the huge EDF itself.

François Roussely, president of EDF, said last week at the annual results, that EDF was considering a partial flotation of London Electricity and EDF International in order to finance its ambitious international expansion plans in the rapidly changing global electricity market.