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EDF, the French electricity provider is able to produce electricity at about 20€/MWh. It is forced to sell it to leeches (read: "competition"), up to 100TWh, at
by ohgodplsno 4y ago
EDF, the French electricity provider is able to produce electricity at about 20€/MWh. It is forced to sell it to leeches (read: "competition"), up to 100TWh, at 42€/MWh through a mechanism called ARENH. Should they need this 100TWh (and they do), they are forced to buy it at current market prices, or anywhere between 530 and 715€/MWh.
The "competition" are resellers that have not installed a single MW of production, essentially leading to starving what used to be the most talented and biggest energy producer in Europe, all under the pretense of the free market. The resellers are actively dropping clients so they do not have to not buy on the open market.
It is happening, and is happening with the blessing of our leaders just greasing billionaire pockets.
- bombcar 4y agoEnron was in the wrong market!
- bitL 4y agoOK, you have confirmed my worries there is some well-connected mafia operating in that market.
- legulere 4y agoCan they produce electricity though? Half their nuclear reactors are down.
- ohgodplsno 4y agoBecause of delayed checkups caused by COVID, and thanks to the independence of the ASN who could unilaterally stop the plants to fix unplanned corrosion. Most of them are starting to come back up, and 90% of usual production is planned to be back by December. Or, said in other ways, it took an extremely rare event that lasted long enough to throw off plans that are made on the scale of years, in addition with a bit of bad luck, and lasts a few months. I'd say they damn well can produce electricity in normal times, yes. But indeed, their need to buy electricity is compounded by that.
- sph 4y ago> It is forced to sell it to leeches By whom?
- ohgodplsno 4y agoEDF is owned at 80% by the state, and the state has instituted the ARENH through law. Needless to say, EDF not going into this would mean someone else is replaced at the head and it still goes on. It's a classic starve the beast play.