Suez CEO fears risk of power shortage

Asked about the reality of a risk of electricity shortage by Capital magazine, Gérard Mestrallet estimated that there is a risk of an electricity shortage "if nothing is done".

“For 20 years, there have not been enough units built in Europe. Now in France, for example, consumption has increased by 3% per year since 2003, ie 3.000 MW ”he declared.
"After having lived under the illusion that nuclear power had created overcapacity, experts now recognize for the first time that we risk running out of electricity in 2008," he said.
“Everything contributes,” according to Mr. Mestrallet, who cites the planned shutdown of German nuclear power and the decline of oil fields in the North Sea. "Europe will have neither oil nor gas in the medium term and will have to import almost all of its fossil fuels," he says.
Mr. Mestrallet notes that "the supply of current is already tight in certain regions such as Brittany and the south of France".

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According to him, the responsibility lies with the European Commission which "has so far focused on opening up competition and has not been interested in the prospects for energy supply and interconnections between countries" .
The boss of Suez recommends "to invest rapidly and massively in new energy production capacities", to remain competitive.


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