French Power Demand Set for Summer High as Temperatures Soar

This content was published on July 29, 2024 - 15:43

2 minutes

(Bloomberg) — The hot weather gripping Europe this week is poised to push French power consumption to its highest level this summer as homes and businesses ramp up their air conditioning units to keep cool.

Demand is forecast to peak at 53.3 gigawatts on Wednesday, the most since late April, according to grid data. Temperatures in Paris, where the Olympic Games are currently underway, will reach as high as 36C (97F) on Tuesday and are set to remain much higher than normal for the next few days.

Climate change is increasing the intensity of heat waves, straining Europe’s grids as electricity demand surges. Earlier this year, high consumption caused a blackout in Montenegro that also knocked out networks in neighboring countries.

From Monday, French network manager RTE is set to curb exports for more than two months to protect the grid. Italy, which normally relies on French electricity to help meet demand, is the most vulnerable to the reduced flows, RTE said.

The hot weather may also lead to lower nuclear output from Tuesday until Aug. 7, Electricite de France SA said in a regulatory filing on Monday. Production restrictions are likely at the Golfech plant in the southwest of the country as the temperature in a river used for cooling water exceeds regulatory levels.

Across the border in Germany, solar power output surged to a record on Monday. Production reached as much as 48,781 megawatts, according to data from the European Energy Exchange AG.

French day-ahead power rose 67% to €52.83 per megawatt-hour on the Epex Spot SE power exchange. The equivalent German contract rose 7.8% to €77.24.