Posted by on August 6, 2022 5:37 pm
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German electricity prices hit record high as heatwave curbs power generation

(ACTIVIST POST) – Above-average temperatures throughout Germany are pushing power prices to new records as utilities reduce electricity output in western Europe amid the worst energy crisis in decades.

National forecaster Deutscher Wetterdienst predicted a heatwave would persist through mid-August. Weather models show max temperatures will jump to mid-July levels of nearly 95 degrees Fahrenheit by Aug. 14, then slide to the low/mid 70s shortly after.

A confluence of factors is pushing German electricity prices to new records. First are the rising costs of imported nuclear power from France and Switzerland. Utilities in both countries report nuclear generation output has been reduced in recent weeks for various reasons, some of which are related to the heat (read: here). Domestically, Germany’s Uniper SE, the country’s largest utility, warned lower river Rhine levels made it more challenging to receive coal shipments via barges to fuel coal-fired power plants.

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