France Shuts Down Nuclear Reactors Amid The Deepening Energy Crisis

5th January 2022

France's main power generator, EDF (Électricite de France), was forced to extend the outage of two nuclear reactors of its power plants and shut down two more due to maintenance and safety reasons. Traditionally, France exports electricity in Europe, however the unexpected halt has already led to a significant increase in imports to cover the internal demand.

As a result of the shutdown, along with other factors such as the low gas reserves in Europe and the low temperatures causing increased demand, the wholesale market prices jumped once more to new record highs not only in France, but also affecting prices in interconnected countries. This extraordinary occurrence is expected to put even more pressure on top of an already unstable European energy market, affecting prices in 2022 for as long as the outages are going to last.

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