Energy crisis: France closes industries and turns to… oil. Blackout dangers
The energy crisis in Europe, especially in France, with 15 nuclear plants closed for various reasons, is pushing Paris to make unheard of decisions in the past. Meanwhile, as Bloomberg points out , the price of electricity for delivery next year has jumped to all-time highs in both Germany and France, two of the largest economies in the European Union.
The situation is so serious that it forces factories to reduce production or close entirely. For example, Aluminum Dunkerque Industries France has cut production in the past two weeks due to high electricity prices, while Trafigura Group's Nyrstar will put its zinc smelter in France on hold in the first week of January. The Romanian fertilizer manufacturer Azomures SA has shut down its plants due to the very high cost of energy. In November – December 2021 we will see a nice vertical drop in European industrial production.
In France, 30% of nuclear power generation is out of order, a situation that depends on some unforeseen events, but above all on a policy of excessive austerity and the lack of investment in recent years. The Nuclear will be green, but it requires a continuous updating of the plants, without which there is nothing but closure.
France is in a dramatic situation which we can summarize as follows:
- On the one hand, it depends on imports from neighboring countries, already at the limit. As we know, Switzerland previously imported from France;
- now even a sudden cold spell, in a country heavily dependent on electric heating, risks exposing the fragility of the system and causing blackouts,
- the country had to resume burning hydrocarbons, coal, but above all oil.
Sara
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The article Energy crisis: France closes industries and turns to… oil. Blackout dangers comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/crisi-energetica-la-francia-chiude-industrie-e-si-da-al-petrolio-pericoli-blackout/ on Tue, 28 Dec 2021 09:00:24 +0000.