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French nuclear woes stoke Europe’s power prices

Forrest Crellin  Reuters, Vera Eckert  Reuters, 24 Aug 22, PARIS/FRANKFURT, Aug 24 (Reuters) – European power prices are surging to fresh records as France grapples with lower nuclear output, adding further pressure to wholesale energy markets already struggling with vastly lower Russian gas supply.

Technical problems have hampered French nuclear reactors along with summer maintenance and drought has curbed hydroelectric production, another of its key sources of electricity generation.

Power from neighbouring countries is needed to help France handle its nuclear shortage. With gas making up the majority of the deficit, the extra demand is driving prices higher again.

“In France, only half the reactors are running,” said German state secretary in the economy ministry, Patrick Graichen…………………. more

August 23, 2022 - Posted by | business and costs, France

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