Electricity Prices Rise in France and Germany

Electricity prices in France and Germany have experienced a sharp rise due to a severe heatwave that led to increased cooling demand and reduced energy production. The price of electricity reached approximately 228 euros per megawatt-hour in Germany and 229 euros in France, representing increases of 15% and 20%, respectively, compared to the previous day. Temperatures that could reach up to 40°C have resulted in higher electricity consumption and limited the operation of French nuclear reactors due to the rising water temperatures in rivers, which reduced their capacity to about 60%. Experts anticipate that the hot weather will continue and affect energy prices, with a forecast of a decline in temperatures starting from next Sunday.

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