The United Kingdom is facing extraordinary costs for electricity imports, as prices have risen sixfold. The system operator spent 470 pounds per megawatt-hour, whereas in June of last year the average price was just 71 pounds.
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A high-pressure heat dome settled over the country, virtually halting the wind, which affected renewable energy production. Gas-fired power plants are also experiencing difficulties. Five major facilities in Britain have been forced to reduce their output because high temperatures are hindering their cooling systems.
As a result, the grid lost 2.5 gigawatts of capacity—enough to power 2.5 million British homes.
The Situation with Electricity Prices in France and Germany
France is also facing problems. Some nuclear power plants have reduced their output because river water has become too hot to cool the reactors. Environmental regulations prohibit discharging hot water back into rivers, which is exacerbating the generation shortfall across the entire continent.
Only solar power is keeping the balance. Clear skies allowed for the generation of about 14 GW, which accounts for about 35% of total generation in the UK. However, the efficiency of solar panels decreases when they overheat significantly.
Europe’s largest market—Germany—is also feeling the impact. Prices there have reached 545 euros per MWh, the highest level since June 2024.
In France, the situation is no better. Temperatures have risen to 43°C, and the cost of electricity has climbed to 268 euros, the highest level since August 2023. European power grids are operating at full capacity.
