France downgrades power cut risk for January from high to medium

The risk of power cuts in France for January has been cut from "high" to "medium," according to French electricity network RTE.

In an updated outlook published late Tuesday, RTE explained that the country, ahead of the heart of winter, is in better condition than it was in early fall.

Nuclear and hydropower availability are also higher than expected, it said.

RTE hailed "positive developments" that helped reduce supply risks, particularly for January, if consumers keep following conservation measures.

The grid operator added that "very unfavorable weather conditions" could increase the risk of a power cut.

France could risk power cuts during winter in a worst-case scenario, RTE previously warned in November, with the ongoing energy crisis being the chief culprit.