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Perhaps Less Happy: France, Next Winter
Link to Julianne Geiger: France's power sector further strained by extended outages and repairs. This is not just a problem for France, but for the entire continent and the UK.
France, Europe's largest power exporter, could be left scrambling to import power this winter. France typically sends power to the UK, Germany, Italy, and Spain—and could soon find those countries rivals in its quest to purchase power to sustain itself through the demanding winter months.
France generates more than 70% of its total electricity from nuclear power.
The extended outages and repairs will create a strain in the market that is in addition to the strain caused by Russia's invasion of Ukraine and the resulting energy- and financial-related sanctions on the aggressor.
This winter, Bloomberg said, the winter electricity flows to the nations France typically supplies is set to be reversed, as power prices within France are pushed higher amid less supply.
The upcoming winter is what Phil Grant, Partner at Baringa Partners, has called "fascinating".
Germany had openly chastised the European Commission for its decision to classify nuclear investments as climate-friendly. Germany has plans to shutter all of its nuclear plants by 2022, whereas France sees nuclear power as a necessary step that will allow the country to move away from fossil fuels.
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