A labor strike in France's electricity sector removed 6.5 gigawatts of power from the grid overnight Monday, according to EDF, as workers protested a recommendation to cut discounted electricity benefits. Seven nuclear reactors accounted for most of the shortfall, and the strike is scheduled to run through Tuesday, raising the risk that outages could extend or expand.
A labor strike in France's electricity sector took 6.5 gigawatts of power off the grid overnight Monday, according to data from EDF. Workers walked off the job to protest a recommendation to reduce employee benefits, including access to discounted electricity.
Seven French nuclear reactors accounted for most of the power reduction, and several hundred megawatts from gas-fired and hydroelectric facilities also went offline during the action.
France produces approximately 70% of its electricity from 57 nuclear reactors and serves as a major power exporter to neighboring nations at a time when electricity prices remain elevated. Countries like Germany, which rely more heavily on gas, face higher costs to generate power.
EDF data indicated the disruption would continue until early Tuesday morning. But the strike is scheduled to run through Tuesday, meaning outages could extend or expand.
Energy sector workers and retirees in France receive reduced rates for gas and electricity. Unions consider these discounted rates a fundamental component of worker compensation packages.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
