25 Jul 2022 | 15:28 UTC

French reactor delays, outages keep pressure on spot prices

Highlights

EDF delays four reactor returns by 15 days

July 25 nuclear output down 18 GW on year

Spot hits Eur532/MWh, August at Eur409/MWh

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France's underperforming nuclear sector is keeping pressure on spot power prices, with July 26 settling above Eur500/MWh despite easing heat-related demand and supply pressures, system data show July 25.

French nuclear output hit an all-time low in Week 29 (July 18-24) of averaging only 24 GW, while day-ahead prices hit record-highs with working-days averaging Eur529/MWh, exchange data show.

Baseload power for July 26 settled at Eur532.25/MWh, Epex Spot data show.

Nuclear output on July 25 peaked at 23.47 GW compared to 41.63 GW for the same day for Week 30 in 2021, data by grid operator RTE show.

Key reason for the 18 GW on year decline is some 15 GW of reactors unavailable due to repairs and checks for signs of stress corrosion first detected in late 2021 at Civaux and Chooz.

In addition, EDF also delayed reactor returns at Blayais 3, Paluel 4 and Dampierre 3 and 4 by a combined 15 days, according to transparency notes since July 22.

Cooler temperatures helped ease demand and supply pressure with temperatures forecast just above season norms.

RTE's weekly forecast pegs peak demand for Aug. 1 at 52.7 GW, some 5 GW below peaks seen July 19 when temperatures soared above 40 C.

Further out, August baseload rebounded to Eur409/MWh July 25 on EEX after falling to a Eur377/MWh settle July 21 as gas prices rebounded.

France competes with Italy for cross-border flows and Italy still Europe's premium market with Italian August baseload trading July 25 at Eur428/MWh indicating continued net imports from France into Italy.

The new 1.2 GW Savoy-Piedmont interconnector was scheduled to start operations in July.

Platts Analytics forecasts French nuclear to average around 25.5 GW for July and August when French demand falls due to holidays. July to date nuclear output averaged around 24.5 GW.

FRENCH REACTOR WATCHLIST

Reactor
MW
Outage Start
Scheduled Return
Notes
Dampierre 4
900
11/04/2022
26/07/2022
Refueling
Dampierre 3
900
14/07/2022
26/07/2022
Additional maintenance
Paluel 4
1300
26/03/2022
01/08/2022
Refueling
Belleville 1
1300
23/07/2022
02/08/2022
Additional maintenance
Chinon 2
900
14/05/2022
07/08/2022
Refueling
Blayais 3
900
07/05/2022
10/08/2022
Refueling
Gravelines 5
900
16/04/2022
10/08/2022
Refueling
Gravelines 2
1300
02/07/2022
11/08/2022
Refueling
Nogent 1
1300
21/05/2022
24/08/2022
Refueling
Tricastin 3
900
12/03/2022
30/08/2022
10-year-overhaul
Paluel 2
1300
20/04/2022
07/09/2022
Refueling (modulation)
Cattenom 1
1300
11/06/2022
14/09/2022
Refueling
Gravelines 3
900
19/03/2022
29/09/2022
10-year-overhaul
Dampierre 2
900
27/04/2022
15/10/2022
10-year-overhaul
Cattenom 4
1300
18/02/2022
10/10/2022
Extra maintenance
Cruas 3
900
07/07/2022
30/09/2022
Refueling
St Alban 2
1300
08/07/2022
19/10/2022
Refueling (outage may be extended)
Chinon 3
900
19/02/2022
20/11/2022
Extra maintenance (SIS check negative)
Blayais 1
900
27/07/2022
25/01/2023
Strike, 10-year-overhaul
Reactors offline with weld issues (signs of stress corrosion)
Bugey 3
900
29/04/2022
14/08/2022
Refueling (SIS check)
Bugey 4
900
09/04/2022
30/09/2022
Refueling (SIS check)
Cattenom 3
1300
26/03/2022
08/10/2022
Refueling (SIS check)
Flamanville 2
1300
12/02/2022
09/10/2022
Refueling (SIS check)
Flamanville 1
1300
22/03/2022
25/12/2022
Refueling (SIS check)
Penly 1
1300
02/10/2021
25/12/2022
10-year-overhaul, SIS issue confirmed
Chooz 1
1500
18/12/2021
13/11/2022
SIS issue confirmed
Chooz 2
1500
16/12/2021
11/12/2022
SIS check
Civaux 1
1500
21/08/2021
08/01/2023
10-year-overhaul, SIS issue confirmed
Civaux 2
1500
19/11/2021
14/01/2023
SIS check
Golfech 1
1300
26/02/2022
18/02/2023
10-year-overhaul (SIS indication)

Source: EDF Transparency

Editor:

Alisdair Bowles