Germany caves in to French demands over EU electricity market reform

Key quote: «The agreement reached on Tuesday among energy ministers in Luxembourg will mean that France could use government support to finance its largely state-owned nuclear plants, which generate about 70 per cent of its electricity. Such a move had been heavily contested by Germany, Austria and Luxembourg, which have been historically opposed to nuclear power but also feared that allowing Paris to subsidise its nuclear plants would provide French industry with structurally lower energy prices, giving it a competitive advantage.»