[cirrus-clouds]

Imagine if French citizens were facing energy bills as high as the UK (£5,816, €6850). French citizens would never tolerate such levels.

From Reuters: "France has committed to capping an increase on regulated electricity costs at 4%. To help do this the government has ordered utility EDF (EDF.PA), which is 80% state owned, to sell more cheap nuclear power to rivals"

(Source: https://www.reuters.com/business/energy/europes-efforts-shie...)

[makomk]

France really feels like they're building towards serious trouble in the near future. The gap between the discounted electricity costs paid by consumers and the actual underlying wholesale prices is only widening (to the point I think they may even have the lowest consumer costs and highest wholesale prices in Europe, or at least not far off), and that basically all has to be subsidised by the government using debt. They're also part of the Eurozone which is founded on common agreements on government debt, and they're at twice the debt cap and rising. The general consensus is that they cannot stop doing this without serious civil unrest and likely widespread rioting which seems well founded in past events. Energy prices are not the only problem - they have more generous retirement policies than other countries, for example - but changing those other things is just as intolerable.

[mytailorisrich]

They are finalising the full nationalisation of EDF, their main electricity supplier and owner/operator of their nuclear power plants.

Then, the electricity wholesale price on the open market becomes irrelevant. As long as their set a price that covers their actual costs for their own consumers they are fine and it is sustainable, and certainly does not require any debts since it does not actually cost anything (beyond the cost of buying the remaining 20% of EDF).

[AlexandrB]

Privatizing everything is great when things are going well. When the shit hits the fan it's nice for elected representatives to be able to force essential utilities to lose money.

[M2Ys4U]

Privatise the profits and socialise the losses.

[NickRandom]

Ah, but what many might not grasp about (British) politics is that when the S.H.T.F it is traditional for the UK to vote in the 'other lot' (be that Labour or Conservatives) since the current lot 'are a useless bunch of twats'. This has the advantage of the 'new' government being able to blame all the current problems on the 'old lot'.

Rinse and Repeat ad infinitum