In Europe, the price of electricity has risen record-breaking: The reason is named – Nach Welt

Due to the shutdown of nuclear reactors in France, electricity in Germany will become more than 10% more expensive next year

Electricity prices in Europe jumped to record levels after the French power producer Electricite de France SA announced the shutdown of two more nuclear reactors. In this context, electricity in Germany will become more than 10% more expensive next year, writes Bloomberg.

EDF is reportedly planning to shut down two reactors at the Chooz Nuclear Power Plant this week and extend the shutdown of two units at the Civaux site through spring to replace broken pipes. These plants now account for almost 10% of France’s nuclear capacity.

The four reactors in Chooz and Civaux are the largest and newest of 56 French reactors. They were built in the 1990s and each have an output of around 1,500 megawatts. That is enough to supply millions of people around the clock.

EDF will shut down the Chooz reactors by January 23, according to documentation on the company’s website.

The Civaux units have been shut down for maintenance since the beginning of this autumn. The shutdown of the second reactor, which was due to resume next week, has been extended by more than 3 months to March 31. The decommissioning of the Civaux-1 has been extended by two months to April 30th.

The market is already very nervous and extremely sensitive, say experts. Ultimately, the market participants hoped for falling electricity prices.

France is a major electricity exporter to neighboring countries via huge cross-border cables, meaning the effects of the blackouts will be felt in Germany, Spain, Italy and the UK. According to the Bloomberg model, peak demand in France alone will grow by 7% next week and exceed 80 gigawatts.

Will Europe have a cold winter?

To make matters worse for the market situation, the air temperature in most parts of the continent will drop below the average.

Temperatures will be below average in most parts of Europe next week, Maxar meteorologists say. At Christmas it is 5 degrees Celsius below the average in Paris.

Electricity in Germany has risen to 230 euros per megawatt hour at the European Energy Exchange AG for 2022. January futures rose 52 percent (to 600 euros) and broke the record.

The jump in electricity prices in Europe took place against the backdrop of a record-breaking gas shortage. Gas prices in Europe have already exceeded $ 1,700 per 1,000 cubic meters. m.

Experts believe that in Ukraine the price of electricity can reach 2.5-4 UAH / kW * h. rise.

also read how much do bread, sugar, milk and building materials cost in Ukraine due to increased gas prices.

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Reference-www.nach-welt.com

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