Here’s how it works:
Renewable energy companies in France purchase one megawatt-hour of electricity from fossil or nuclear producers for €42 — a price conveniently negotiated by the French government.
They then sell that very same megawatt-hour to French consumers for €280 because it’s branded ‘eco-friendly Renewable’, under a fixed tariff also imposed (or “negotiated”) by the government.
And to top it all off, the French government subsidizes these renewable companies — compensating them for the apparent “loss” of selling their €42 energy unit at €280. 😂😂
These companies can then proudly claim their product is “renewable,” thanks to a maze of carbon trading schemes and mass balance accounting. But when all is said and done, the reality remains: the energy was generated using fossil or nuclear resources.
But here’s the best part: most of these so-called French renewable energy companies are owned by U.S. investment funds managing the pensions of American workers. In other words, French citizens are paying for the retirement of U.S. workers.
Brilliant, isn’t it? France is becoming a banana republic.