French electricity prices are expected to rise further on Wednesday as the country experiences its fifth heatwave of the summer, putting pressure on nuclear power production while increasing demand for air conditioning.
Day-ahead French power prices climbed 21.8% to €142.5 ($164.35) per megawatt hour by 0802 GMT, according to LSEG data.
Nuclear generation is forecast to fall by 7.3 gigawatts during Wednesday’s midday peak, representing about 12% of France’s total nuclear capacity, according to EDF data.
France relies on nuclear power for roughly 70% of its electricity supply, making reductions in reactor output particularly significant for the country’s power market.
France is expected to experience temperatures around 7.4 degrees Celsius above seasonal averages, according to LSEG data. The intense heat is likely to drive greater use of fans and air conditioners, putting further pressure on electricity demand.
The extreme heat is forecast to intensify on Thursday and Friday, with temperatures reaching between 35 C and 39 C across most parts of the country.
However, conditions could begin to ease over the weekend as temperatures are expected to decline, Meteo-France said.
The latest spell of extreme weather comes as repeated heatwaves across Europe continue to put pressure on energy systems, while also increasing the risk of water shortages, wildfires and heat-related deaths.
Goodness Anunobi
