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Sweden’s Vattenfall AB’s 44-year-old Ringhals-1 shut down, as energy prices fall

Cheap Energy Just Shut Down a Nuclear Reactor  (Bloomberg) 1 April 20, — The latest victim of the global slump in energy prices is an old Swedish nuclear reactor that will stay offline until at least the end of summer. Electricity prices in the Nordic market were plunging even before the coronavirus began to cripple economies and hurt demand worldwide. That’s because of the build-up of a huge surplus of future supply in the form of water in the r eservoirs and snow-pack in the mountains. Vattenfall AB’s 44-year-old Ringhals-1 facility will be switched off until at least the end of September, the operator said in a statement with the Nord Pool exchange. It was already down for maintenance since March 13.

Vattenfall AB’s 44-year-old Ringhals-1 facility will be switched off until at least the end of September……
As European prices slump, weighed down by lower demand and the slide in fuel and carbon costs, more plants will struggle to make enough profit. In the U.K., margins at some gas-fired plants could drop as much as 30% year-on-year if demand recovers slowly, according to Aurora Energy Research.

https://www.bloombergquint.com/business/energy-price-slump-claims-new-victim-as-swedish-reactor-shuts

April 2, 2020 - Posted by | business and costs, Sweden

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