A background into the Electricity Spike

A background into the Electricity Spike

French September Nuclear power is at its lowest output level since August 1998, after it was reported nuclear power stations were at risk of catastrophic failure. This failure centres around the Vessel and its Cap, as high levels of carbon are produced, making the steel framework brittle.

Yesterday a report was produced by Autorité de Sûreté Nucléaire (French ASN) providing an additional 5 sites that require testing within the next 3 Months, limiting output in that time. A total of 7 sites are currently being tested, limiting output further.

The French fuel mix is completely different to ours, as 75% of their mix relies on Nuclear Power. This places a huge burden on the French Power system limiting interconnector flows between France and the UK, to which imports account for roughly 6% of electricity available in the UK.

Also Coal Prices continue their rise, with Newcastle Contracts trading at $102.2/ton, its highest level since April 2012. The downward correction in temperatures over the next week is also pushing prices up, with the expectation of demand being significantly higher than seasonal norms.

Protect yourself from rising costs, visit our Domestic Switching Site