Energy prices | French electricity costs are rising.

Energy prices | French electricity costs are rising.

The expanding EU energy problem has resulted in increased power prices.

According to figures from the Nord Pool market, the cost of energy in France increased by 5.5% on Tuesday and is now just shy of €650 per megawatt-hour.

At 12:46 GMT, the day-ahead price increased to €645.54 per megawatt-hour from €611.85 the day before, when it was also rising.

This indicates that the cost of power in the nation is significantly higher than the average cost in the EU, which is close to €600 per megawatt-hour. Despite this, prices rose on Tuesday in Austria, Belgium, and the Netherlands as well.

Due to declining Russian gas supplies and the fact that many European nations rely on natural gas to generate electricity, energy costs have been rising across the EU. The government worries that forced power use limits during the heating season may be implemented, even though France is less dependent on Russian gas than Germany and produces around three-quarters of its electricity from nuclear power plants.

According to French Energy Minister Agnes Pannier-Runacher, “the big players, government agencies and enterprises, must limit their usage of gas as well as electricity because the two systems are linked.”

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