French electricity prices turned negative as a drop in demand and surging renewables output prompted some nuclear reactors to power down.
Daily consumption from Thursday through Sunday is seen falling by an average 6 gigawatts, a Bloomberg model shows. Sunny and blustery weather has driven up solar and wind generation, prompting the grid operator to request that Electricite de France SA take several nuclear plants offline.
While more clean power is needed across Europe to reach climate goals, soaring renewables output and a lack of battery storage mean reactors sometimes have to be turned off during periods of low demand. It’s becoming increasingly common around weekends in France — which gets about two-thirds of its electricity from its atomic fleet — and also occurs in the Nordic region and Spain.
EDF halted its Golfech 2, Cruas 2 and Tricastin 1 nuclear plants, and plans to halt three others during the weekend. Some renewables producers will also have to curb generation to avoid paying a fee amid negative prices.
French day-ahead power fell to -€5.76 a megawatt-hour, the lowest in four years, in an auction on Epex Spot. Germany’s equivalent contract dropped to €7.64.
Subscribe to the Fortune Next to Lead newsletter to get weekly strategies on how to make it to the corner office. Sign up for free before it launches on June 24, 2024.

It's not magic. You don't need to pray to God. We can do the same. But we can't even provide basic power.

The bigger tragedy is that Nigerians have accepted unreliable power supply as normal. Poorer countries and countries at war have more reliable and stable power supply than Nigeria.

lighted polish interior
'meetpeb
pebbypeb112@gmail.com

palmpay
8067197848
70k admittance.