As SCC points out, it's covered by taxpayers
UK electricity price cap 52 p/KWh. £520 / MWh.
French baseload electricity for the Nov22-Jan23 period is now trading >€1,500 per MWh. French peakload for Nov-Dec is close to €3,000 per MWh level. [Source Javier Blas / Bloomberg]. Ouch.
Bills are capped. The French won't pay the full cost of the energy they use through their bills. EDF is nationalised. It's losses are covered by the taxpayer. So as a taxpayer, you pay for some of your electricity through your bill - the 4% rise is here - and some (very much more than 4% and also not included in national inflation calculation) through your taxes.
Redistribution means that if you are rich you pay for some of someone else's bill through your taxes. If you are poor, somebody else pays for some of your electricity through their taxes.
In the UK, I imagine Truss will announce support for the poor to cover their energy costs. Essentially redistribution.
Then, let's look at how well run the French nuclear plants are. 12 nuclear reactors are currently closed due to cracked reactors. A cracked reactor doesn't sound like a minor issue to me. Anyhow, EDF are buying energy from Germany (currently 6GW / 10% of total supply) and from UK (1GW). If there is an energy shortage over winter, will those countries but able to sell France energy?
France / UK energy supply info here: User Posted Link
Posted By: Timmy_Goat on August 26th 2022 at 11:06:37
Message Thread
- £3549 energy price cap from October (General Chat) - SCC 28, Aug 26, 07:35:58
- No government minister available for media interview. (General Chat) - norwaay, Aug 26, 09:46:16
- Not the best time for a lame duck government (n/m) (General Chat) - SCC 28, Aug 26, 09:48:36
- If this is all caused by 'external factors' (General Chat) - norwaay, Aug 26, 09:53:52
- Because they don’t give a shit about anyone other than themselves.To pretend that they are (General Chat) - Augustus Pablo, Aug 26, 10:39:15
- If this is all caused by 'external factors' (General Chat) - norwaay, Aug 26, 09:53:52
- Not the best time for a lame duck government (n/m) (General Chat) - SCC 28, Aug 26, 09:48:36
- I did some work a few years ago at NWI for Air Malta. On the final flights of the season (General Chat) - Augustus Pablo, Aug 26, 08:41:54
- And still the Govt sleepwalks into disaster (General Chat) - CWC, Aug 26, 08:20:06
- i don't think there is problem with energy supply.... (General Chat) - ghostof barry butler, Aug 26, 09:02:12
- They are talking about winter blackouts (n/m) (General Chat) - jamesward, Aug 26, 10:02:05
- …. (n/m) (General Chat) - CWC, Aug 26, 09:12:41
- They need to get at the wholesalers not the suppliers surely (General Chat) - Jim, Aug 26, 08:54:54
- How though (General Chat) - CWC, Aug 26, 09:22:40
- Spot on RE COBRA for this, its a massive systemic problem (General Chat) - megson, Aug 26, 15:53:21
- #corbynwasright (n/m) (General Chat) - Azteca, Aug 26, 09:18:17
- and yet almost none of the 'experts' on here thought he was electable (General Chat) - Cable Gap Pioneer, Aug 26, 18:40:50
- Does at least keep the utility companies in business (n/m) (General Chat) - SCC 28, Aug 26, 09:14:38
- How though (General Chat) - CWC, Aug 26, 09:22:40
- New price cap projections keep going up too (General Chat) - SCC 28, Aug 26, 08:27:57
- We’ve stopped selling (General Chat) - CWC, Aug 26, 09:15:41
- What do you mean by stopped selling (n/m) (General Chat) - SCC 28, Aug 26, 09:20:05
- err, not selling (General Chat) - CWC, Aug 26, 09:32:33
- Just the price cap then (n/m) (General Chat) - SCC 28, Aug 26, 09:35:18
- our stuff isn’t price capped (General Chat) - CWC, Aug 26, 10:06:45
- Just the price cap then (n/m) (General Chat) - SCC 28, Aug 26, 09:35:18
- err, not selling (General Chat) - CWC, Aug 26, 09:32:33
- What do you mean by stopped selling (n/m) (General Chat) - SCC 28, Aug 26, 09:20:05
- We’ve stopped selling (General Chat) - CWC, Aug 26, 09:15:41
- 🎯 (n/m) (General Chat) - Under soil heating, Aug 26, 08:23:29
- i don't think there is problem with energy supply.... (General Chat) - ghostof barry butler, Aug 26, 09:02:12
- I’m baffled by the response to all this (General Chat) - Under soil heating, Aug 26, 08:09:35
- Working in the industry (General Chat) - ParrotPuncher, Aug 26, 08:41:41
- Yes but the problem is it’s then sold into the market and we have to buy it back at (General Chat) - Jim, Aug 26, 08:59:47
- Good article here about our gas glut (General Chat) - SCC 28, Aug 26, 09:11:43
- drill more gas wells world wide (General Chat) - ghostof barry butler, Aug 26, 09:03:24
- Yes but the problem is it’s then sold into the market and we have to buy it back at (General Chat) - Jim, Aug 26, 08:59:47
- 🎯 (General Chat) - CWC, Aug 26, 08:28:46
- Great minds and all that! (n/m) (General Chat) - Under soil heating, Aug 26, 08:42:59
- All they seem to care about is winning elections (General Chat) - SCC 28, Aug 26, 08:12:05
- Working in the industry (General Chat) - ParrotPuncher, Aug 26, 08:41:41
- Oh to have a disgusting left wing government such as France. 4% there. (n/m) (General Chat) - Augustus Pablo, Aug 26, 08:02:20
- As SCC points out, it's covered by taxpayers (General Chat) - Timmy_Goat, Aug 26, 11:06:37
- I see suppliers aren't even willing to give a lot of small business energy renewals... (General Chat) - DrDublin, Aug 26, 08:27:10
- Small businesses are a big credit risk (General Chat) - CWC, Aug 26, 10:09:08
- That's understandable but it's happening to those with excellent credit records... (General Chat) - DrDublin, Aug 26, 10:10:36
- Incredible what we’re seeing (General Chat) - SCC 28, Aug 26, 08:39:35
- Small businesses are a big credit risk (General Chat) - CWC, Aug 26, 10:09:08
- Covered by tax payers though isn’t it (n/m) (General Chat) - SCC 28, Aug 26, 08:05:25
- No government minister available for media interview. (General Chat) - norwaay, Aug 26, 09:46:16
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