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French baseload week ahead power prices surge
January 10, 2017 / 10:20 AM / a year ago

French baseload week ahead power prices surge

FRANKFURT, Jan 10 (Reuters) - Hedge purchases to meet winter electricity demand in France, where a number of nuclear plants are offline, drove wholesale electricity prices up on Tuesday, with the baseload contract jumping 87.5 percent to 165 euros a megawatt hour (MWh).

This was the contract’s highest level since early November.

France will likely see daily power consumption reach 81.8 gigawatt (GW) on average next week, compared with 75.7 GW recorded on Tuesday, according to Thomson Reuters data.

Nuclear supply, while more comfortable than in December, is subject to delayed returns of plants after recent standstills. (Reporting by Vera Eckert, editing by Susan Fenton)

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