Electricity for delivery next year surged as much as 6.4 per cent to an all-time high in Germany, Europe’s biggest power market. France, which usually exports power, will need to suck up supplies from neighboring countries to keep the lights on as severe nuclear outages curb generation in the coldest months of the year.
The crunch is so severe that it’s forcing factories to curb output or shut down altogether. Aluminium Dunkerque Industries France has curbed production in the past two weeks due to high power prices, while Trafigura’s Nyrstar will pause production at its zinc smelter in France in the first week of January. Romanian fertilizer producer Azomures temporarily halted output.
Electricite de France SA said last week it would halt four reactors accounting for 10 per cent of the nation’s nuclear capacity, straining power grids already facing cold weather. At the beginning of January, 30 per cent of France’s nuclear capacity will be offline, increasing the reliance on gas, coal and even oil.
It’s weird how everything we do to “fight climate” seems not to affect Russia or China.
Fascinating eh. Would almost make one think there is some sort of conspiracy going on to destroy western countries and the freedom of their people.
I believe that is undeniable, now.
VOWG
“They” have been telling us that for years….no one listens.
Putin’s loving it. And Germany’s idiot government is shutting down its last reactors this month. Haha. Morons.
The level of stupid when it comes to natural resources has been set to “moron level 11”. A good example is the entire province of Nova Scotia (hell all of Atlantic Canada) where “changing attitudes, [and] financial hurdles posed challenges for troubled projects” that has led to a massive loss in investment within that province.
https://www.cbc.ca/news/canada/nova-scotia/nova-scotia-energy-megaprojects-1.6266335
1. “AltaGas, the company with a plan to store up to 10 billion cubic feet of natural gas in underground caverns alongside the Shubenacadie River, announced in October it was pulling the plug on the project”.
2. “In July, Pieridae Energy announced it would not proceed with its proposal to build a processing plant and export facility for liquefied natural gas in Goldboro, Guysborough County, citing cost pressures and time constraints.”
3. “The future of the Bear Head LNG project, a proposal to bring in natural gas to Port Hawkesbury from Western Canada or the U.S., and then import it to Europe, is uncertain after the company behind the project tried to sell it last year.”
4. “The province’s offshore oil and gas future looks less than rosy after a call for exploration bids this year yielded no interest.”
5. “Last year, the Donkin coal mine — which produced both thermal coal for electricity generation and metallurgical coal for steelmaking — closed permanently”.
The above examples, all from the CBC article, represent lost investment where resources would have been extracted and sold internationally, bringing in much needed revenue to the province.
Now listen to what the local experts are saying…
a) “Jennifer Tuck, the CEO of the Maritimes Energy Association, said the industry’s transition away from fossil fuels is affecting the energy landscape in Nova Scotia. Tuck said investment funds have been pulling out of funding oil and gas projects, and federal policy changes are focusing more on clean energies and technologies”.
b) “Community and global resistance to fossil fuels also likely played a role in the demise of some of Nova Scotia’s energy megaprojects, said Noreen Mabiza, an energy co-ordinator at the Ecology Action Centre in Halifax.”
c) “When AltaGas announced it was abandoning its natural gas storage plan, it said the project had received “mixed support, challenges and experienced delay.” Mi’kmaw protestors and other opponents have long spoken out against the project, setting up a camp next to the river and launching court challenges.”
d) “It takes years. It wasn’t an overnight effort to get these projects to leave [holy fuck – are you that stupid?], but it’s just that continued fight of people who want to fight and protect our land, and people who do recognize we are in a climate emergency and just certain things won’t pass anymore,” Mabiza said.
e) “Hughes said Nova Scotia has a “colonial mentality” when it comes to energy projects, primarily thinking about exporting resources such as gas or coal to other areas instead of using them at home first [you have no local industry dip-shit].”
f) “In October, the Nova Scotia government tabled legislation that would see coal-fired electricity generation phased out and 80 per cent of the province’s power coming from renewables by 2030. Nova Scotia Power president Peter Gregg said the utility expects to meet the 80 per cent target largely through two renewable megaprojects, the Maritime Link and the Atlantic Loop.”
g) “Gregg said he’s confident that even if the Atlantic Loop doesn’t come to fruition by 2030, Nova Scotia Power will be able to meet the target through other means, noting the utility has a “portfolio of solutions” that includes onshore wind and grid-scale batteries to store wind energy.”
So, to break things down, the “leaders” in Nova Scotia are chasing away billions of dollars in investment (a-c) to protect their land from a climate emergency (d). This is because Nova Scotians have a “colonial mentality” (e) when it comes to their precious resources. So rather than harvest the value of these resources they will invest their money (the Federal government’s money actually) in renewable energy projects like the Atlantic Loop (f) and even if that dream doesn’t emerge (i.e. the Feds don’t hand over the money) the province will be able to meet its renewable energy mandate (g) through solar and wind-energy projects (presumably from more Federal money).
To summarize, this article [actually the people of Nova Scotia] does not know the difference between extracting and selling natural resources into a global market (i.e. making money) and developing green energy projects for its local electricity demand (i.e. spending money). You can’t fix stupid.
Sometimes, people want to fail.
Sadly they others down with them.
Leftists keep proving they’re only good as fertilizer, yet they get away with their genocidal nonsense every single time.
Only fertilizer? They have some possibilities as spare parts and pet food.
I wouldn’t feed a leftist to animals. I love animals too much to abuse them like that. As for spare parts — too much risk of contamination.
Asia is responsible for about 50% of global CO2 emissions and rising rapidly. North America and Europe together are responsible for 27% and falling.
Asia is now driving the bus. Anything we do is rounding errors in comparison.
CO2 is not a pollutant or a climate driver.
Guess who is smiling. Putin.
All government incentives (free money) are pointing in the wrong direction.. If reliable energy is the right direction..
Who is not going to take advantage of this?, I would..
Not really sure what the master plan is or even if we have one.. Large companies feasting on government cheese is more of a revaluation than a revolution..
Futures Prices are 1,000 Euros/MWh. That is 1.00 Euro/kWh.
How many kilowatt hours do you use in a month?
My house uses about 700-800 kWh. Add in transmission, distribution, and adminstrative charges, convert Euros to Dollars…
Holy Gaia! Anybody got an extra $1,000 per month?
My elderly Mother’s Apartment only uses 125-330 kWh per month. I know she would not have $150-$400/ per month for electricity.
You think the peasants are Revolting?
You ain’t seen nothing yet!
I was in the Electricity Production business for 20 + years.
We traded electricity back and forth for $10-$40/ MegaWatt Hour 20 years ago.
Before the Deregulators and Environmentalists got involved.
I remember when people were shocked California Electricity his $100/Megawatt Hour.
It was enough to get Governor Gray Davis recalled.
My last bill was $0.11/kWh, or $110/MWh delivered.
Follow the money. That’s where a lot of real news is located.
That’s why this story is in the Financial Post (Bloomberg) and not the Toronto Brown Star.
The Greed behind the Greens is pure evil.
The neo-Marxists are winning and the ex-Marxists – Russia and China – are tickled pink.