With the start of the new school year approaching, tension is rising a notch in France on the electricity supply front. While it has thirty-two of its nuclear reactors out of fifty-six shut down, EDF announced on Thursday August 25 that four of them, affected by stress corrosion problems, small cracks, will see their non-operation extended for several weeks this fall. This extension is related to “a better estimate” the time needed to carry out the investigations and repair work, justified the energy company, while these problems shut down twelve reactors, the others being shut down for maintenance issues.
In more detail, and according to the new provisional timetable published by EDF, reactors 1 and 4 of the Cattenom power plant, in Moselle, will be reconnected to the electricity network respectively on 1er and November 14. Number 3 will resume service on December 11, while section number 1 of the Penly power plant (Seine-Maritime) will not be reconnected until January 23.
Despite this new hazard, EDF wanted to maintain its nuclear production forecast for 2022 between 280 and 300 terawatt hours (TWh), even if, in the end, as a spokesperson admitted on Thursday August 25, production should be more ” most likely “ reach the bottom of this range. In mid-May, already, EDF had already had to revise its estimate of annual nuclear production.
Absolute records
While the war in Ukraine is raging and Vladimir Putin is threatening to close the tap on gas deliveries, this delay can only contribute to fueling a spike in wholesale electricity prices that is already unprecedented in France. For months, prices have been soaring, breaking all-time records. Thursday, August 25, they reached 900 euros per megawatt hour, for delivery next year, against less than 100 euros a year ago, and less than 50 euros on average in previous years. Terrified by the curves, an asset manager of an American fund commented in these terms, Friday August 26, in a tweet, the impact of the announcement of EDF: “For 2023, prices would trade at 900 euros per MWh with winter prices above 1,500 euros (i.e. 30 times the five-year average price)”he was alarmed.
During a press briefing on Thursday August 25, the Ministry of Energy Transition, for its part, judged that load shedding (or power cuts) would be “Only a last resort”. Nevertheless, individuals and small businesses in France will already be encouraged to moderate their electricity consumption during cold-related demand peaks, in exchange for advantageous rates the rest of the year, added the consulting firm. ‘Agnès Pannier-Runacher. To this end, the executive wants to relaunch and expand an offer similar to what generations of French customers of EDF have known as “Tempo”, which encourages lowering the heating on certain days during winter peaks.
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