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    Power prices in France plunged to €600/MWh, after soaring to unprecedented levels above €1,100 on August 26th, on European Union’s plans to intervene in the market to curb prices. Price caps, reducing power demand and windfall taxes on profits are some of the possible measures Europe could consider to tame the energy market. EU chief Ursula von der Leyen will outline the European Commission’s ideas on capping energy prices in a speech on September 14th. Still, France is contending with its worst nuclear outages in decades after Électricité de France SA extended shutdowns of several key nuclear reactors due to corrosion problems while drought curbed hydroelectric production. 70% of the electricity generated in France comes from 56 reactors but 32 are currently offline for maintenance. France, which was a power exporter, switched to importer, intensifying the squeeze on energy supplies in the European continent that was already grappling with low supplies from Russia.

Electricity prices displayed in Trading Economics are current spot benchmarks offered by sellers to buyers priced in megawatts per hour (MWh) in the local currency. Our electricity prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.