French nuclear giant makes its worst ever loss.
Nuclear power stations go off line.
“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: https://www.bbc.co.uk/news/world-europe-64674131