Re: French court freezes out non-French competition
"But at the same time they are laughing at your 40% energy bill hike."
They're not laughing now
An increase in heating demand added extra stress to France’s electricity grid, forcing power prices to climb to a shocking €3,000 per megawatt-hour.
3000 Euros per MWh!
A perfect storm
- [DEMAND] A cold snap swept across France Monday morning, forcing the country's electricity grid manager to request businesses and households to reduce power consumption as energy prices spiked.
The severe power crunch comes as 25 of Electricite de France SA's 56 nuclear reactors are offline. For some context, France's primary power source is nuclear, contributing at least 70% of total production.
Bloomberg's commodity analyst Javier Blas reminds people, "Europe's energy problems predate Russia's invasion of Ukraine."
France and other European countries have been struggling with an energy crisis that appears to be continuing and may last through summer as energy supplies from Russia decline. The conflict in Ukraine has exacerbated energy disruptions as European countries plan to reduce their dependency on Russian gas (we suspect this will be a hard transition, if not, impossible).
Renewables are looking very attractive in the medium term, particularly with increases in the cost of coal and gas