"The French electricity fairy caught in the meanders of the European market"

De facto, the price of the wholesale electricity market is indexed to that of gas… and to the goodwill of Vladimir Putin. Credit: martin33 - stock.adobe.com

CHRONICLE – Curious anomaly, wholesale prices are ten times higher than retail.

Paris “City of Light”. EDFElectricité de France, a major player in the reconstruction of the country during the Glorious Thirties from 1945 to 1975. Resounding success of the civil nuclear program in response to the oil shocks of the 1970s… For a long time, the electricity fairy - a French expression unique in the world embodied by the painting of the same name by Raoul Dufy from 1937 - was particularly benevolent towards us. France drew from its fleet of nuclear center (the largest on the planet after the United States) a considerable comparative advantage. Both for the competitiveness of companies, which really need it, and for individuals delighted to have the cheapest electricity in Europe. For decades, France remained the leading net exporter of electricity on the continent. Until 2021.

And wham, fortune turned around at the worst time. Nuclear failures - half of the 56 reactors shut down for technical reasons - are combined with the…

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