In France, the electricity price stood at €442.88 per megawatt hour (MWh) on Monday, the highest amount in Europe and its highest price since 2009.
Austria is second most expensive for electricity, with €434.34 per MWh, followed by Belgium with €432.99. Poland, whose electricity price was much lower than many other countries, saw its price spike by 110 percent in the last day to €344.56 per MWh.
France's biggest electricity supplier EDF last week said that it had found faults on pipes in a safety system at its nuclear power station in Civaux, in the west of the country. The company said that due to the discovery, an outage at that plant will last longer than expected. EDF added it would also stop its plant in Chooz, in eastern France, because it uses the same kind of reactors. The plant closures will result in a loss of 1 Terawatt-hour by the end of 2021, the electricity company said.with low wind speeds, meaning that wind turbines aren't able to produce as much power.
On top of this, Russia has been reducing its natural gas flows to the continent, in an attempt to get the 759-mileInflation and supply chain issues caused by the pandemic saw energy prices soar this year, with European gas surging 600 percent,The region's benchmark gas contract increased by 8.8 percent on Monday. German year-ahead power, a European benchmark, rose as much as 3.1 percent to a record high of €250 per MWh, according to Bloomberg.is projecting 3.
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