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Market Chatter: French Power Prices Climb as Nuclear Availability Falls to 58%

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French power prices surged to a 19-month high as heat curtailed nuclear generation, with fleet availability falling to 58%, while cloudier skies weakened solar output, Bloomberg reported Monday, citing data from French grid operator RTE and Epex Spot.

A tighter French power market pushed Monday's day-ahead price to 177.34 euros ($205.43) per megawatt-hour, with some intraday hours trading above that level.

German solar generation is running at about 25 gigawatts Monday, less than half last week's peak, potentially putting further pressure on French power prices, Bloomberg models showed.

Heat waves have strained Europe's power and water networks, while cloudier weather is now reducing solar output after weeks of sunny conditions lowered midday electricity costs. RTE did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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