France has suffered a spike in electricity prices after its nuclear-reliant grid was stretched by the temporary closure of four reactors.
The reactors, which are not expected to re-open until well into next year, were taken offline after faults were discovered during safety checks.
French prices soared to their highest since 2009, putting them among the highest in Europe. It adds to a wider energy squeeze, with Europe at the mercy of cold weather and political developments in Russia, its main gas supplier.
A pressure group called Ecology Action called for the resignation of Energy Minister Barbara Pompili over the closures, which have forced France to import electricity produced from fossil fuels.
Ms Pompili is “directly responsible for the current fiasco”, the group said, after overseeing the closure of two other reactors last year. Further outages are expected in January.
The minister said there was no danger of blackouts in France because of contingency plans to reduce voltage and energy use. She asked French electric company EDF, which runs 56 nuclear reactors in France, whether it could restart its offline reactors sooner than planned.
Safety inspectors found faults in two reactors at the Civaux power plant, and another two were switched off at the Chooz facility because they were the same type of reactor.
France gets about 70 per cent of its electricity from nuclear power. The setback comes as it plans a new generation of nuclear reactors and leads a push to have them classified as climate-friendly by the EU.
While supporters of nuclear power regard it as reliable and virtually carbon-neutral, opponents say it is risky and produces unacceptable radioactive waste.
Germany, the biggest player in the anti-nuclear camp, will this week close three of its last six reactors ahead of its final atomic exit in 2022.
Much of Germany’s electricity comes from coal, adding to France’s concerns when it is forced to turn to its neighbour for power.
Elsewhere, in Britain, the head of energy supplier Ovo said rising gas prices could be an “enormous crisis for 2022” amid fears of runaway household bills.
Stephen Fitzpatrick told ministers to show more urgency in curbing an estimated £4 billion ($5.36bn) rise in total costs to consumers.
“We haven't seen any action from the government or from the regulator,” he told the BBC. “There's an acceptance that there's a problem, but nowhere near enough urgency to find a solution.”
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
ASHES SCHEDULE
First Test
November 23-27 (The Gabba, Brisbane)
Second Test
December 2-6 (Adelaide Oval, Adelaide)
Third Test
December 14-18 (Waca Ground, Perth)
Fourth Test
December 26-30 (Melbourne Cricket Ground, Melbourne)
Fifth Test
January 4-8, 2018 (Sydney Cricket Ground, Sydney)
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
