British reliance on French electricity increases by more than quarter
JUNE 17, 2018
The UK’s reliance on importing French power to keep the lights on has increased by almost a quarter this year in further evidence of Britain’s energy cost crunch.
Energy prices in Britain are now around a fifth higher than they were this time last year on the wholesale market.
Meanwhile, across the Channel,nuclear power plants have flooded France with cheap electricity which is being sold at a tidy profit to struggling British suppliers.
“French nuclear plants have been far more reliable this year to date than last year,” said Jamie Stewart, the ICIS Energy analyst, “which has kept a firm lid on French power prices.”
The stark fundamental differences between the UK and its biggest electricity trade partner have nudged British imports, via twin high-voltage sub-sea cables, to a total of 6.4 terawatt hours so far this year. Last year Britain imported less than 5TWh over the same period. Energy brokers at Marex Spectron told The Sunday Telegraph that the “anomalously strong” imports from France are closer in line with Britain’s winter appetite for foreign energy than typical summer trends. The trend has also re-energised industry debate over Britain’s energy trading future once it leaves the EU next year...
