French power prices advanced after the start of two nuclear reactors were pushed back, denting the nation’s ramp up in capacity at a time they are most needed.
(Bloomberg) — French power prices advanced after the start of two nuclear reactors were pushed back, denting the nation’s ramp up in capacity at a time they are most needed.
French power for next month gained the most in two weeks, rising as much as 3.9%. An oncoming cold snap in western Europe and rising natural gas prices also provided bullish sentiment for electricity traders across the region.
The prolonged outages will set back the recovery of the nation’s nuclear capacity, which is the backbone of Europe’s integrated power system. Availability at EDF’s nuclear fleet has increased in recent weeks and is near the highest level in a year.
The Chooz-1 unit is now due to start on Feb 28, a month later than planned, while Blayais-1 was delayed by 10 days to Feb. 11, according to data submitted to the grid.
Meanwhile, supplies are also curbed after the Cordemais coal-fired plant halted as workers went on strike to protect jobs and to push for a plan to make the power station carbon neutral.
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French nuclear output last year was ravaged by outages and output plunged as much as 23%. Mild and windy weather during the winter is also bringing some relief to France and surrounding power markets.
The nation’s Energy Transition Minister Agnes Pannier-Runacher said on France’s Info radio Friday that she’s “confident in our ability to go through the winter, but we have to remain vigilant.”
The longer dated German year-ahead contract, a regional benchmark, dropped as much as 2.5%, reaching the lowest level since March last year, on the European Energy Exchange AG.
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