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The French government and EDF have struck a deal on nuclear electricity prices to shield consumers from increases and enable the state-owned utility to fund new reactor construction, drawing criticism from energy-intensive businesses. NOVEMBER 15, 2023 GWÉNAËLLE DEBOUTTE, more https://www.pv-magazine.com/2023/11/15/french-government-edf-agree-on-e70-mwh-for-nuclear-power/ The French government and utility EDF have reached an agreement on the price of nuclear energy after…

The French government and state-owned EDF have reached an agreement to regulate the price at which the utility's nuclear-generated electricity is sold to an average of EUR70 (USD76) per MWh once the current ARENH mechanism expires at the end of 2025.

The French government and EDF have struck a deal on nuclear electricity prices to shield consumers from increases and enable the state-owned utility to fund new reactor construction, drawing criticism from energy-intensive businesses.

Following months of negotiations, the European Council has reached an agreement on a proposal to amend the EU's electricity market design, agreeing to include existing nuclear plants in the reform. The agreement could result in France dropping a scheme forcing state-controlled utility EDF to sell a portion of its nuclear energy production to competitors below market-level prices.

The €17.9bn (£16bn) loss is being blamed on capped prices as well as repairs to power stations.