Key facts
- France's day-ahead power prices increased by 21.8% to $164.39 per MWh.
- Nuclear power generation in France is expected to be cut by 7.3 GW on Wednesday.
- Low river water levels and high temperatures are impacting the ability to cool nuclear reactors.
- Hungary and Romania have also experienced nuclear power generation disruptions due to low Danube river levels.
- Hungary resumed production after rainfall increased river levels.
- Romania undertook measures to ensure sufficient water for its nuclear plant's cooling systems.
France's day-ahead power prices surged by as much as 21.8% to $164.39 per megawatt hour on Tuesday morning, driven by a heatwave that is curbing nuclear power generation. Nuclear operator EDF indicated that generation would be cut by 7.3 gigawatts, or 12% of total capacity, on Wednesday due to low river water levels needed for cooling reactors.
Nuclear energy accounts for approximately 70% of France's electricity mix. The reduced output, coupled with increased power consumption during the heatwave, is pressuring prices upward. This is not the first instance this summer; France previously slashed nuclear generation by 6.4 GW due to similar heat-related issues.
The heatwaves have also impacted nuclear output in central and eastern Europe. Hungary and Romania were forced to shut down reactors at their sole nuclear power plants due to historically low water levels in the Danube River. Hungary has since resumed production as rainfall improved river levels, while Romania undertook engineering efforts to ensure sufficient water for its Cernavoda plant.