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French Tuesday power hits 250 euros per MWh on tightness
November 7, 2016 / 8:08 AM / a year ago

French Tuesday power hits 250 euros per MWh on tightness

FRANKFURT, Nov 7 (Reuters) - French day ahead power prices hit a record high 250 euros ($276.58) per megawatt hour (MWh) on Monday on tightness in the nuclear sector and low wind across the region.

That was the highest price for the day ahead contract since it started trading on the Thomson Reuters system in the fourth quarter of 2008.

“The situation is tightening significantly in France day on day, from an already pressured situation,” Thomson Reuters Point Carbon analysts said.

The price was up 20 euros from a maximum of 230 euros paid last Friday for Monday delivery.

Prices have soared for more than a month on concern over French nuclear supply.

On Sunday evening, French consumption was at about 60,236 MW, while production was at 59,170 MW, grid firm RTE said.

Germans day ahead power traded at 58 euros, up 10 euros from the Monday price, while curve contracts were not excessively high.

$1 = 0.9039 euros Reporting by Vera Eckert and Bate Felix, editing by Jason Neely

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