French Nuclear Helps Shield Europe Power Prices Amid Iran Shock

vm13(fjjzg(c16d{5m8[xsfy_media_dl_1.png RTE, ENTSO-EArticle content(Bloomberg) — France is on track for its highest level of nuclear generation for March since 2019, helping to support power markets across Europe amid the energy shock caused by the war in the Middle East. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentFrench reactors are running more steadily, allowing them to nearly double power exports compared with last year, according to data from network operator RTE. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentEurope is facing a surge in wholesale power prices, driven by its reliance on imports that have been disrupted by the US and Israel’s war on Iran. Benchmark European natural gas prices have risen sharply as the conflict hit key energy infrastructure and supply routes. Governments are increasingly concerned about the impact on households and businesses as higher costs feed through the economy.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“French nuclear is running overtime — it not only makes up for a very high share of domestic power use but also covers quite a lot of demand from neighboring markets which have much higher power prices,” said Florence Schmit, energy strategist at Rabobank. “The French nuclear fleet together with rising renewable capacity in all European power markets is effectively shielding prices from rising further on the back of actual gas supply concerns.”Article contentFrench nuclear generation has averaged more than 44 gigawatts so far in March, on track for the highest for the month since 2019. Meanwhile, exports have averaged about 11.5 gigawatts for March so far, according to RTE.Article contentRead: Europe’s Power Prices Resist Iran Shock as Renewables SurgeArticle contentFrance is one of the few European countries with a large nuclear fleet, after others such as Germany shut their reactors. This has helped keep French power prices lower than in neighboring markets, while also making the country a key supplier when the regional system tightens.Article contentFrench power futures for delivery in April are up 54% so far this month, according to EEX. The European gas benchmark is up about 65%, according to ICE.Article contentTrending JPMorgan Sees 'National Security Risk' in Old Grid Networks PMN Business Posthaste: Canada's troubled housing market just got hit with another headwind News Subscriber only. Traders placed US$580 million in oil bets ahead of Donald Trump's social media post on Iran talks Subscriber only Financial Times Despite growing financial pressures, Canadians are still reliably paying their mortgages Mortgages Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. JPMorgan Sees 'National Security Risk' in Old Grid Networks PMN Business Posthaste: Canada's troubled housing market just got hit with another headwind News Subscriber only. Traders placed US$580 million in oil bets ahead of Donald Trump's social media post on Iran talks Subscriber only Financial Times Despite growing financial pressures, Canadians are still reliably paying their mortgages Mortgages Garry Marr: Why it could be the right time to walk away from your real estate Personal Finance