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French nuclear giant makes huge loss

French nuclear giant makes its worst ever loss.

Nuclear power stations go off line.

BBC report

“EDF’s nuclear output in France fell by 30% to its lowest since 1988 as more than half of its 56 ageing nuclear power stations went offline for repairs, which had been delayed because of the Covid-19 pandemic. “

How Macron protected electricity consumers

“In France, President Emmanuel Macron’s government responded to Russia’s invasion of Ukraine by imposing a tariff “shield” for consumers, limiting energy companies to a 4% rise in 2022 followed by 15% in 2023, keeping inflation lower than in other European countries.

But it meant that EDF had to sell power to French consumers at a loss, while UK consumers paid far more for their energy. EDF has around 80% of France’s electricity market.”

Read the full report: