For example, on June 15, the Australian Energy Market Operator suspended its spot market in eastern Australia and urged household consumers in New South Wales to conserve power.
Similarly, France, a country that exports electricity, is also facing the risk of rolling blackouts this winter. About 70 per cent of France’s electricity is produced by 56 nuclear reactors, but half of them are currently offline. As Yves Merignac of the négaWatt think-tank in Paris noted, “The more EDF delays, the more skills keep getting lost, technical problems accumulate and there is a snowball effect.”
The emergence of distributed and privately owned renewable energy sources is also increasing the financial challenges of central utilities as they lose revenue previously generated through energy production. Escalating oil and natural gas prices are compounding these issues.
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