Europe's record heatwave raises electricity costs

A severe heatwave across Europe is putting unprecedented pressure on the electricity system, as nuclear reactor output declines and wind power generation is affected. This has led to electricity prices reaching their highest seasonal levels in years. These conditions have resulted in increased electricity consumption by households and businesses, and Europe has shifted to rely on fossil fuel-based power plants with high costs. There are predictions that electricity prices in Germany and France could reach record levels. Additionally, electricity supply restrictions have been announced, with warnings of potential shortages in the UK, and nuclear plants being affected by the rising temperatures.

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