European Day-Ahead Power Jumps as Heat Wave Intensifies
The current heat wave is set to last through Wednesday before easing slightly, forecasts show.
Photographer: Loic Venance/AFP/Getty ImagesPower prices for delivery on Tuesday spiked to the highest level for months as a brutal heat wave drives up demand for cooling and crimps supply from some French nuclear reactors.
Day-ahead power prices in Germany surged to the highest since February, while in the UK and France, contracts reached 3-month highs. German prices rose as high as €476.19 ($557.83) a megawatt-hour for the hour from 8 pm on Tuesday, according to Epex Spot.