On Tuesday, the UK Met Office recorded the country’s first-ever temperature above 40 degrees Celsius (104 degrees Fahrenheit) at London’s Heathrow Airport just before 1 p.m., as temperatures were still rising. High demand sent power prices in the UK up 5% in one day.
Across the Channel, things have been even more volatile. Europe’s heat wave has reduced France’s available nuclear power, as the river water used to cool nuclear plants became too hot to be effective. As a result, day-ahead baseload power prices settled at 610 euros per megawatt-hour — about 10 times higher than prices from 2017 to 2021.
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