👀👀 "Nacionalisation" of energy...
#France

French Energy Firm Fury at Price Caps - Impending Court Battle Looms

EDF is being forced to sell energy at a loss as Macron’s administration combats spiralling energy costs and a cost-of-living crisis- and is now suing the government for €8.3bn in compensation.

The soon to be nationalised company must sell more energy with huge below-market-rate discounts to its rivals until January - which could cost the company €15bn by the end of the year.

French leaders hope nationalisation will secure energy supplies amid the imminent European energy crisis threatening power rationing across the continent. This week nuclear plants were allowed to pump hot water into French rivers and lakes to maintain energy supplies.

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Add this to the problem, and we have a much worse situation!

"The Rhine — a pillar of the German, Dutch and Swiss economies for centuries — is set to become virtually impassable at a key waypoint later this week, stymieing vast flows of diesel and coal. The Danube, which snakes its way 1,800 miles through central Europe to the Black Sea, is gummed up too, hampering grain and other trade."

A drought with restrictions will officially start in the south of England tomorrow.

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