Electricity Prices Rise in France and Germany During Heatwave
Electricity markets in France and Germany experienced a sharp rise due to the intense heatwave, as increased demand for cooling and decreased production led electricity prices to reach around 229 euros per megawatt-hour in France and 228 euros in Germany, representing a 15-20% increase compared to the previous day. Electricity consumption in France exceeded 49 gigawatts, marking an increase of approximately 5%, while the capacity of French nuclear reactors deteriorated due to higher water temperatures in the rivers, resulting in the reduction or complete shutdown of several stations. Temperatures are expected to continue rising until the end of the week, putting the electrical grids under serious stress, while prices remain susceptible to fluctuations.
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