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45
France's new energy law slashes targets on renewables in favour of nuclear (www.rfi.fr)
submitted 23 hours ago by schizoidman@lemmy.zip to c/europe@feddit.org
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After years of wrangling, France has set out a new energy law that slashes its wind and solar power targets and drops a mandate for state-run energy provider EDF to shut down nuclear plants.

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[–] gandalf_der_12te@feddit.org 4 points 6 hours ago (1 children)

solar + wind + batteries + gas

solar + wind + batteries are the cheapest option 97% of the year link

the rest will have to be filled in with gas, which is flexible

[–] Tar_alcaran@sh.itjust.works 3 points 5 hours ago* (last edited 5 hours ago) (1 children)

So, "the cheapest option" if you live in Los Angeles AND you lie about cost of nuclear power. It would cost 135 euro/mWh in Birmingham, which is comparable to Paris in sun-hours. Call it 120 to be nice. Nuclear power in France costs 70 euros/mWh

And those French nuclear plants are all running at 70%, this solar solution would be fully capped out.

[–] Quittenbrot@feddit.org 1 points 4 hours ago (1 children)

Nuclear power in France costs 70 euros/mWh

Yea*, because the French state as the sole owner of EDF told them so. And is providing them with a multitude of subsidies for their activities. Hence, the true costs of nuclear power are hidden with cross-subsidisation.

*Rather, the price can very well exceed 70€, but is then taxed more

[–] Tar_alcaran@sh.itjust.works 1 points 4 hours ago (1 children)

From what I can find, with my limited french skills, EDF isn't getting much in the way of subsidies. The 70 euro soft-ceiling was a massive raise to fund new reactors, it used be ~40 euro's for 25% of power and they ran fine on that.

[–] Quittenbrot@feddit.org 1 points 3 hours ago

The 70 euro soft-ceiling was a massive raise to fund new reactors, it used be ~40 euro’s for 25% of power and they ran fine on that.

They didn't run fine on that at all. The blanket 45€ cap ensured very cheap electricity in France, but also led to EDF being indebted by approx 65 billion € in 2022.

That's when the French state decided to fully step in and increased their share in the company from 80ish to 100% for another 10 billion € taxpayers money/national debt. I'd call that a subsidy.

That also means that the debt of EDF is now fully covered by the French state, giving the company more leeway despite being so indebted. That also qualifies as a subsidy.

Further, the planned new EPR2 reactors will include a clause that will guarantee EDF a minimum price. Should prices fall below that, the difference is covered by the French state. That could be a subsidy.

Also, the French state will provide favourable loans and guarantees for the construction of these reactors, giving that EDF themselves don't have the funds to tackle this huge investment. That's a clear subsidy.