The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France -
The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic.
The first two weeks of confinement led to a reduction in electricity consumption in France of around 15 to 20% compared to the consumption usually observed at the same year period under equivalent weather conditions. Such a variation in electricity consumption over such a short period of time is unprecedented, the most recent significant drop in demand having been observed during the economic crisis of 2008-2009, when, in contrast, the contraction in demand spread over the long term, reaching a maximum of -5% from one year to the next.
Concomitantly, electricity prices on the wholesale markets dropped from EUR50-55/Mwh at the beginning of 2020 to around EUR20/Mwh at the end of March...
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