The European Electricity Sector: A Real Headache…

Alphavalue | On Friday last week, Electricité de France cut its 2022 nuclear production target by almost -10% to 300-330 TWh, following extended shutdowns at five of its 56 nuclear reactors (7.3 GW). This is coupled with deadlocked NATO-US talks with Russia over the Kremlin’s military presence on the Ukrainian border. The situation means that if there is less nuclear power, the dependence on Russian gas will be greater. Didn’t we see this problem coming in the last three months when Russia upped the ante on Ukraine?