According to a report, power exports of electricite de france are no longer dependable. Reportedly, the giant nuclear operator has become a nightmare for investors. According to the report, the French government who own the multinational company are extracting billions of dollars from the company to shield households from high energy costs.
According to one report, there is a generic issue with the reactors, and the performance of the nuclear plants have progressively waned throughout the years. Reportedly, five out of edf’s 56 reactors, suffering from corrosion and cracks have been stopped for checks and repairs. According to the report, technical problems have undermined the availability of existing plants, while the cost of it’s new reactor in Flamanville is €12.7 billion, four times more than the original estimate. Reportedly, operation has been delayed until 2023.