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European Electricity Prices Soar After France Cuts Nuclear Output Forecast

By Tyler Durden | 8 February 2022

ZERO HEDGE — When we first heard yesterday that Europe’s largest energy producer, French EDF (Electricite de France) had paradoxcially again cut its nuclear output target for a second time in a month – despite already ridiculously high energy costs in France and across the continent – we had a very quick reaction: this would make Putin very happy as Europe would become even more reliant on Russian gas.

EDF said nuclear output is expected to fall to 295 and 315 terawatt-hours in 2022, down from an earlier forecast of 300 and 330 terawatt-hours. The last time the company’s nuclear production fell below 300 terawatt-hours was more than three decades ago. Further cuts to next year’s output could come when EDF reports results later this month, Morgan Stanley said in a report.

“When the target is close to or under 300 terawatt-hours, it starts to raise concerns for next winter in terms of supply and demand,” said Emeric de Vigan, chief executive officer at French energy analysis firm COR-e. […]

1 Comment on European Electricity Prices Soar After France Cuts Nuclear Output Forecast

  1. France stores the 10,000 year nuclear waste from its 59 reactors in a remote Indian Ocean Island, or the cost of nuclear electricity would be even higher. Germany gave up on nuclear as it has no such island to park the waste.

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