• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 9 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 9 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 9 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 9 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs


The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

French Power Prices Spike To €3,000 Per Megawatt-Hour Following Cold Snap

  • A cold snap in France has sent power prices skyrocketing.
  • Half of the country’s nuclear reactors are offline, and much of the EU is preparing for Russian natural gas supplies to dry up.
  • An increase in heating demand added extra stress to France’s electricity grid, forcing power prices to climb to a shocking €3,000 per megawatt-hour. 

A cold snap swept across France Monday morning, forcing the country's electricity grid manager to request businesses and households to reduce power consumption as energy prices spiked. This is happening as half of the country's nuclear reactors are offline, and parts of Europe are preparing for Russian natural gas supplies to dry up. 

The fragility of Europe's power grid is on full display today, even as spring arrives. French power prices spiked to 3,000 euros, a 13-year high, due to an increase in heating demand as grid operator RTE requested households and businesses to reduce energy-intensive devices.

The severe power crunch comes as 25 of Electricite de France SA's 56 nuclear reactors are offline. For some context, France's primary power source is nuclear, contributing at least 70% of total production. 

RTE said power consumption could reach as much as 73,000 megawatts on Monday morning. Power generation will only be 65,000 megawatts. However, the grid operator said that power imports would be as much as 11,000 megawatts. 

France and other European countries have been struggling with an energy crisis that appears to be continuing and may last through summer as energy supplies from Russia decline. The conflict in Ukraine has exacerbated energy disruptions as European countries plan to reduce their dependency on Russian gas (we suspect this will be a hard transition, if not, impossible). 

Bloomberg's commodity analyst Javier Blas reminds people, "Europe's energy problems predate Russia's invasion of Ukraine." 

Even with nuclear power, the largest source of electricity in France, what continues to amaze us is the number of reactors that remain offline. 

Besides energy woes in France, the cold weather is threatening vineyards in the country's wine-producing areas. The frost is a similar phenomenon that hit last year, causing upwards of 2 billion euros in losses. 


By Zerohedge.com 

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • George Doolittle on April 04 2022 said:
    Still blaming the Netherlands for everything over there?
  • Bill Tomlinson on April 05 2022 said:
    'Even with nuclear power, the largest source of electricity in France, what continues to amaze us is the number of reactors that remain offline.'

    It amazes me too: what is the reason???

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News