'Nuclear Industry in France in Crisis,' 20 Reactors Shut Down 
Thursday, November 10, 2016 at 01:07AM
Uranium Stocks

The Chooz nuclear power plant in France, where the industry is being investigated by regulators.

By Paul Brown

A third of France's nuclear reactors have been shut down by industry regulators as revelations emerge about the supply of sub-standard parts.

As investigations into falsified documents and excess quantities of carbon in steel continue, more closures are expected. This is not yet a full-blown crisis for the nuclear industry, but it is putting serious strain on the finances of French nuclear giant EDF and causing electricity price rises across western Europe.

It is also very bad news for the climate. France is reopening mothballed coal plants and burning more coal than it has for 32 years. Neighbors, including Germany, which normally takes cheap nuclear power from the French, are also powering up old fossil fuel plants and exporting the electricity to France at premium prices.

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