Setback in France noticeable in the electricity market

The price for electricity on the EPEX Spot listing rose to €222,10 per MWh last week. The price dropped towards the weekend, to €153,74 per MWh on Sunday, January 9. This is a significant price increase compared to January 2021, but at the same time stable compared to November. On Sunday January 9, the quotation rose to €259,11 per MWh. This has broken the downward trend that started after December 21.

Disappointment at French nuclear power stations
Analysts cite various causes for the price increase. In addition to a smaller supply of electricity from wind turbines and the increase in demand due to the end of the school holidays, maintenance work on nuclear power stations in France also plays a role. In mid-December, corrosion was found in the safety system of one of the reactors at the Civaux power plant. In addition to the two reactors at the Civaux power plant, the reactors at the Chooz power plant have also been shut down for inspection, because they are of the same type. The inspection of reactor Chooz 1 is still ongoing, but corrosion has been found in Chooz 2.

Together with the French nuclear safety authority, ASN, EDF is now looking for a solution to the problem. In any case, the date of January 23, on which the reactor was supposed to be put back into operation, has been canceled, reports EDF. The expected date on which the reactors will be put back into use has been postponed to the end of April.

Low level capacity
The French grid operator RTE previously announced that the capacity of nuclear power stations in January was at the lowest level in years. The longer maintenance period at the nuclear power stations is a setback in the European energy supply, where a limited supply of gas ensures high prices and the yields of electricity from wind turbines have been variable in recent weeks.