Electricity prices jump in Europe as demand soars in the heatwave
Summary
A heatwave in Europe has caused electricity prices to rise sharply because people are using more air conditioning and some power plants have stopped working. Lower wind speeds and high river temperatures have reduced renewable and nuclear power, pushing prices to their highest levels in years.Key Facts
- The heatwave increased electricity use as millions used air conditioners and fans.
- Many gas power plants in Great Britain faced problems and reduced their output.
- Wind power fell due to slower wind speeds caused by a high-pressure weather system.
- France’s nuclear plants produced less power because warm river water made cooling harder.
- Great Britain imported electricity from Europe at over six times the normal price on one day.
- Electricity prices reached around £470 per megawatt-hour in Great Britain, compared to £71 last June.
- Germany’s electricity price hit over €545 per megawatt-hour, the highest since June 2024.
- A program in the UK encourages households to reduce electricity use during peak times to ease demand.
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