June 22, 2024



Electricity prices in Europe surge to record highs

The Watchers

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European power prices surged to record highs over the past couple of days after France announced the closure of four of its largest nuclear reactors. The crisis is further exacerbated by already very high prices of natural gas and cold temperatures. By the end of the month, most of the continent will endure below average temperatures, further increasing power demand.

French power giant EDF found two faults close to the welds on the pipes of the safety injection-system circuit in two reactors of the Civaux power plant last week. The company had stopped one reactor at the Civaux plant for a routine 10-year checkup in August and in November it also halted its second reactor at the site protectively, previously planning to restart it on December 24.

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