FRENCH SOLAR TURNING BACK NUCLEAR

Nuclear France’s Sun Power Record Leaves Utilities in the Shade

Tara Patel, April 9, 2015 (Bloomberg News)

“Sunshine brought more than spring flowers to France this week. Panels across the country pushed solar output to new highs of more than 4,000 megawatts, grid data show…That surge in a nation more dependent than any other on nuclear power illustrates the fundamental change taking hold across Europe’s energy industry. It also signals more pain to come for traditional utilities in the region like Electricite de France SA and EON SE in Germany…The utilities component of the STOXX Europe 600 returned 3.1 percent in the first quarter, lagging the 17 percent gain in the benchmark and a 32 percent jump for carmakers. That probably won’t change anytime soon…Suffering from weak demand for energy due to relatively warm weather, utilities are also being hurt by sluggish industrial activity and increasing renewable-power supplies…In France EDF CEO Jean-Bernard Levy last month warned the utility has to find a way to stop ‘bleeding cash’ as it tries to reconcile the cost of refurbishing aging nuclear reactors and government-imposed caps on power rates. France gets more than three-quarters of the electricity it produces from 58 atomic reactors. Solar output tripled over the past three years…” click here for more

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