nuclear-news

Electricite de France has become a nightmare for investors, and a danger to regional energy security.

The long decline of Electricite de France SA isn’t only a political
crisis for the government in Paris, it’s a growing economic threat for
much of Europe

The giant nuclear operator, once a source of national pride
and reliable low-cost electricity, has become a nightmare for investors and
an increasingly wobbly pillar of regional energy security.

Technical problems at some of its largest reactors mean EDF is set to produce the
smallest amount of atomic power in three decades, slashing France’s
exports to neighboring countries. It’s a one-two punch for a region
that’s already reeling from record natural gas prices, and shows little
sign of abating.

Instead of helping EDF deal with its problems, the French
government is extracting billions of dollars from the company to shield
households from high energy costs. “The generic issue with EDF’s
reactors is leading to an unprecedented decline in production, which starts
being worrying,” said Nicolas Goldberg, a senior manager in charge of
energy at Colombus Consulting in Paris. “We’re going to have high
prices on the European market for a while. Everybody’s going to pay
more.”

 Bloomberg 23rd Jan 2022

https://www.bnnbloomberg.ca/french-nuclear-giant-s-fall-risks-energy-security-for-all-europe-1.1711929

January 24, 2022 - Posted by Christina Macpherson | business and costs, France