French Nuclear Woes Push Power Prices in Europe to Record
- Low nuclear availability in France, Germany boosts prices
- Germany likely to be exporting power to France this winter
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The lowest French nuclear availability for the time of year since at least 2009 and a drop off in expected supply from German reactors this winter are helping extend a bull market for European electricity.
German power for the three months to March rose 28 percent since the start of September while the French equivalent gained 63 percent, according to broker data compiled by Bloomberg. Prices could rise even further as France will have to import more power next month during times of high demand, according to Pira Energy.