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EDF is latest utility in energy crisis hurt locker

  • Jan 14, 2022

A month after the EDF (EDF.PA) chief executive had to shut down four of his 50-odd nuclear power stations due to technical issues, the French energy company said it was closing another and facing an 8 billion euro hit from a government scheme to protect households from soaring prices. It won't be the last European utility to get caught in the crossfire of the 2022 energy crisis. All things ...

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Bob Meinetz's picture
Bob Meinetz on Jan 14, 2022

French president Emanuel Macron ordered EDF to sell nuclear power at cheaper wholesale prices to protect customers from natural gas price gouging by OPEC and Russia. As a result, the French public faces nuclear electricity costs that will be 4% higher, vs. gas electricity costs that would have been 35% higher.

Cheap, abundant nuclear energy to the rescue - again.

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