Europe has no gas, France has electricity. After two cold winters, serial problems with the nuclear fleet and difficulties with gas supplies following the war in Ukraine have finally sent France deep into the red. In the fourth quarter, the price of one megawatt hour of delivery (spot market) reached 744 euros per megawatt hour, ten times more than in normal times without the crisis. Worse, it is twice as expensive as in Germany.
These prices are, of course, disconnected from the reality of electricity production costs. However, they send a message. all experts and market players (traders and suppliers who partially buy electricity on the spot market) expect several hours of power outages this winter.
Granted, these are only wholesale prices that households are currently protected from. However, without government action to the contrary, they will be passed on to prices in early 2023. In that case, the increase will exceed 50%. As for…
Source: Le Figaro
