France shuts down nuclear plants - gas and power prices shatter records

Seeking Alpha ^ | 16 DEC 2021 | Nathan Allen,

[DUMBGRUNT]

France shuts down nuclear plants - gas and power prices shatter records

During routine maintenance, Electricite de France (OTCPK:ECIFF) ("EDF") found pipe defects on the safety injection systems for two nuclear facilities; both are shut down awaiting repair. As a result of the outages, EDF has revised 2021 annual EBITDA guidance from "more than 17.7b euros" to "17.5b - 18.0b euros." With yet another source of energy offline, European natural gas for January delivery continues its relentless march higher; prices now reaching $44 / mmbtu, Europeans will pay 900% more for natural gas in January 2022 than January 2021. In the US, where natural gas prices have risen almost 50% year over year, consumers are paying less than $4 / mmbtu French month ahead electricity prices for January have risen to ~$620 / mwh on the back of the EDF news, compared to average power prices in the US at ~$100 / mwh.

[DUMBGRUNT]

Parts of Europe may be dark as North Korea at night?

https://archive.vn/etsuF

[Mariner]

This is the stuff revolutions are made of.

[allendale]

Yet it should be emphasized that unlike the Germans, France remains committed to nuclear power. Those plants will come back on line when the repairs are completed. However the spike in prices demonstrate just how critical nuclear power is. Unless there is relatively cheap, reliable sufficent electricity, there is poverty, social and political unrest.

[Tijeras_Slim]

Especially if the price of baguettes goes up.

[DUMBGRUNT]

—”Yet it should be emphasized that unlike the Germans, France remains committed to nuclear power. “

A good comment from the site:

“Germany pushes windmills and solar and as a result ends up dependent on natural gas from Russia and electricity from French nuclear power plants for their baseload power needs. Only a rich country can afford to be so stupid.”

[immadashell]

Brandon wants to know!

[MinorityRepublican]

The French had made some mistakes but at the same time they have some common sense compared to other Western Europeans. The French realize that nuclear provides reliable and clean energy. Also, they’ve banned the use of burqua in state buildings, if you want to be French, you can’t wear the burqua.

[House Atreides]

“Yet it should be emphasized that unlike the Germans, France remains committed to nuclear power….”
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Merkel and her government were incredibly STUPID with that “let’s eliminate all our nuclear power plants” decision. Were they afraid of Tsunamis?

[DJ MacWoW]

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[MinorityRepublican]

Merkel and her government were incredibly STUPID with that “let’s eliminate all our nuclear power plants” decision.

Now Germany is dependent on Russia for around 40% of their energy needs.

[nascarnation]

Now Germany is dependent on Russia for around 40% of their energy needs.

"I'm Vlad Putin and I approve this message"

[AlaskaErik]

Let the bastards freeze in the dark.

[DIRTYSECRET]

France gets 75% of it’s power from nuclear plants. At least it did before. That’s a big change.