CO2 QUOTE Closing from Cierre del 18-07-2024 65,29 €/T

Spanish electro-intensive companies forced to compete with French companies “doped” with nuclear energy

The French nuclear fleet (completely state-owned, EDF is a 100% public company) is offering electricity at 42 euros (special ARENH tariff) to the electro-intensive industry in its country, a price that is well below (-23%) the 54.2 euros at which the megawatt hour is quoted in the French wholesale market. South of the Pyrenees, however, the national electricity system has an increasingly renewable and denuclearised profile (Spain generated more electricity with solar energy in April than in all its nuclear power plants combined) and, in addition, offers increasingly lower prices: 37.2 euros mega on average in 2024. In spite of this, the heavily subsidized French electricity, with which French electro-intensive companies are being doped (and other regulatory advantages to which this strategic sector is being subjected) are eroding Spanish electro-intensives. Here’s the story.

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