OGZPY - France shuts down nuclear plants - gas and power prices shatter records

During routine maintenance, Electricite de France (OTCPK:ECIFF) ("EDF") found pipe defects on the safety injection systems for two nuclear facilities; both are shut down awaiting repair. Two additional reactors, using the same technology, will be shut down briefly later this month for inspection. As a result of the outages, EDF has revised 2021 annual EBITDA guidance from "more than 17.7b euros" to "17.5b - 18.0b euros." Although 2021 guidance was effectively unchanged, shares fell as much as 13% in European trading, as investor weight the impact of lingering outages on 2022 performance. With yet another source of energy offline, European natural gas for January delivery continues its relentless march higher; prices now reaching $44 / mmbtu, Europeans will pay 900% more for natural gas in January 2022 than January 2021. In the US, where natural gas prices have risen almost 50% year over year, consumers are paying less than $4

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France shuts down nuclear plants - gas and power prices shatter records