Portugal Exporting Energy to France

Energy supplies from the Iberian Peninsula to France have sky-rocketed following the closure of several of the country’s nuclear reactors.
 
The increased demand from France has seen the cost of electricity soar. 
While the average cost per Megawatt is priced at 58 euros, the Single Iberian Electricity Market has been charging in excess of 800 euros per Megawatt. 


However, an agreement signed in Marrakesh last week during the climate change conference, will see Portugal, Germany, France, Spain and Morocco boost energy links between the countries, while also charging much more competitive rates.


Portugal has for a long time been outdoing many nations in the renewable energy stakes, and managed to run on renewable energy alone for four straight days earlier this year.


The feat was achieved between 7 and 11 May, and Portugal was even able to export excess renewable energy during the period.