Record heat wave in Europe has contributed to rising electricity prices in France

The abnormal heat wave in France, which is expected to occur this week, will lead to "tropical nights" and more frequent use of air conditioners, which will cause an increase in electricity prices. This was reported by Bloomberg on June 16.

"Record heat is expected in Western Europe this week, which will lead to so-called tropical nights and rising electricity prices in France due to a sharp increase in demand for cooling," the material says.

Due to the scorching heat, Electricité de France SA may limit electricity generation at nuclear power plants (NPP), including Saint-Alban, where the company is preparing to limit production from June 20. The reactors at this nuclear power plant are cooled by water from the Rhone River, and operators are often forced to reduce production or shut down power units when the water in the Rhone heats up above acceptable temperatures.

The French nuclear industry is the backbone of the European electricity market, the authors of the article note. In view of this, any reduction in output can quickly lead to a reduction in supply and an increase in prices. Since the end of May, European countries have experienced record-breaking increases in air temperatures.

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Bloomberg reported on May 26 that electricity prices in France rose sharply amid intense heat, which increased the risks of reducing nuclear and hydropower generation. According to the European Energy Exchange (EEX), monthly electricity contracts rose to 11.7%, reaching their highest since the end of March. At the same time, during the trading session, the price rose from about €33.65 per megawatt hour to higher levels amid increased heat in Europe.