French, Spanish electricity prices have plunged to near zero
Slump in power prices are undermining operations of atomic plants that are still the cornerstone of electricity grids in several parts of the continent.slump in power prices are undermining operations of atomic plants that are still the cornerstone of electricity grids in several parts of the continent.
Longer term, it’s a warning sign that reactors might get increasingly squeezed out, even as countries such as France and the UK plan to spend huge sums on new plants, having identified the technology as a key element in the fight to limit global warming.
At the United Nations climate meeting in Dubai late last year, they were joined by more than 20 nations including the US, the United Arab Emirates, Japan and South Korea in calling for a tripling of global nuclear generation by the middle of the century.
Electricite de France SA, which is just getting its fleet of nuclear plants back on track after years of lengthy outages for repairs and checks, has already had to reduce output and halt plants, or extend stoppages. Over the weekend, the firm idled half a dozen plants as prices turned negative.
To the south in Spain, electricity prices for Friday plunged to the lowest level since 2013 and have barely settled above zero for weeks.
Blooomberg 9 April 2024
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