EDF proposes capping electricity prices in Britain

French energy company EDF is in discussions with British Prime Minister Lise Terrace’s government regarding setting a voluntary cap on electricity produced at its five UK nuclear plants in order to protect consumers from rising costs, according to the Sunday Times.
Terrace promised last week to separate the relationship between gas and electricity prices, which rose following the Russian-Ukrainian war last February, Bloomberg News reported.
Most of EDF’s production for next year was pre-sold at well below market price for gas and “did not take advantage of the higher short-term prices,” the report quoted Matt Sykes, general manager of the company’s generation business.