Energy Newsletter - June 2020

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...

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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