France's Power Prices Jump 22% as Heatwave Trims Nuclear Output

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Power prices in France surged 22% as a heatwave reduced nuclear power output, the country's primary electricity source. Nuclear generation is expected to drop by 7.3 GW, pushing day-ahead prices to $164.39 per MWh.

The new heatwave in France is curbing nuclear power generation in Europe's biggest nuclear electricity supplier and leading to spiking day-ahead power prices. France's day-ahead power prices soared by as much as 21.8% to $164.39 (142.5 euros) per megawatt hour (MWh) on Tuesday morning local time, per LSEG data cited by Reuters, as nuclear power generation is expected to be curbed at the mid-day peak on Wednesday. Data by nuclear power plants operator EDF showed that France would see its nuclear generation cut by 7.3 gigawatts (GW) on Wednesday,…