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. […]