Your old reactors are producing “cheap” energy if we ignore indirect subsidies like state guarantees for project risks and replacing insurance for uninsurable power plants, costs of eventual decommissioning, waste storage etc. .
But many of them are end of life. They are kept running because building new ones even to replace the existing capacity takes ages and is far too expensive to be profitable under the price regulation (i.e. Flamanville, which would require 12-17 cents/ kWh to be profitable while the regulated price is 7 cents which wind and solar can achieve natively. Similar problems with international EDF projects like Hinkley Point).
Your old reactors are producing “cheap” energy if we ignore indirect subsidies like state guarantees for project risks and replacing insurance for uninsurable power plants, costs of eventual decommissioning, waste storage etc. . But many of them are end of life. They are kept running because building new ones even to replace the existing capacity takes ages and is far too expensive to be profitable under the price regulation (i.e. Flamanville, which would require 12-17 cents/ kWh to be profitable while the regulated price is 7 cents which wind and solar can achieve natively. Similar problems with international EDF projects like Hinkley Point).