More heat than light (which makes finding a compromise all the more remarkable)
Interesting that you think no new nukes will attract finance (I agree). So from a UK perspective (how) do you think Sizewell C will get financed?
If ARENH only benefits a few intermediaries, why did the French government increase the amount of electricity sold under the regulation to 120TWh once the energy crisis started? I do not think that this is really the case. The EDF sued the government last year over this and it was widely reported the government did it to keep the prices in check.
Also I don't think that France wants to subsidize plants to steal German industry, it wants to do it so it can have functioning plants and EDF cannot pay on its own. But the issue is real because the price of building and maintaining plants should be in the price of electricity. If the government covers those instead, then the low price on the bill is just artificial. Otherwise it's like an Uber driver happy with his income, but 10 years later it's time for a new car which he can't afford. Turns out the price was too low. But I think in this case if it ever comes to this Germany will just subsidize its own electricity for the industry so it doesn't matter that much.