European day-ahead power prices rose on Tuesday, lifted by Monday’s announcements about capacity losses at France’s Gravelines nuclear reactor and news that the Bugey nuclear plant is expected to restrict output.<\/p>\n
A heatwave in France has led to multiple warnings of power cuts at reactors due to higher water temperatures used for cooling systems. In the case of Gravelines, a swarm of jellyfish clogged up filter drums.<\/p>\n
French baseload power for Wednesday (TRFRBD1) was up 18.9% at 93.8 euros ($108.94) per megawatt-hour at 0730 GMT, while the equivalent German contract (TRDEBD1) had an asking price of 95.8 euros\/MWh, having closed at 89.3 euros.<\/p>\n
French nuclear availability fell another two percentage points to 67% of installed capacity, having dropped six points on Monday.<\/p>\n
Higher temperatures are driving increased demand for air conditioning, although August is the main holiday month in France which weighs on demand.<\/p>\n
August will be largely drier and warmer than normal over the continent, but will return to a more seasonable pattern later, according to an LSEG meteorological analysis.<\/p>\n
In renewable supply, German wind power output was expected to rise to 8.1 gigawatts from 7.1 GW day-on-day, while that in France was set to fall to 1.9 GW from 3.6 GW, LSEG data showed.<\/p>\n
Solar generation was seen dipping in both countries.<\/p>\n
Demand was flat overall, with holidays beginning to end in some parts of Germany. <\/p>\n
The country’s power use was forecast to increase to 52.3 GW from 52.0 day-on-day, while that in France was set to fall 200 MW to 45.2 GW.<\/p>\n
German year-ahead baseload (TRDEBYZ6) edged up 0.6% to 86.7 euros\/MWh, while the French equivalent (TRFRBYZ6) was bid at 59.5 euros after closing at 61.8 euros.<\/p>\n
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