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European electricity prices reach multi-year highs during heatwave
Power markets across Europe recorded sharp price increases as record temperatures drove air conditioning demand and reduced output from wind, gas, and nuclear plants. Great Britain paid more than six times its usual rate for imported electricity on Tuesday.
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Electricity prices across European markets climbed to multi-year highs on Tuesday as a heatwave increased demand for air conditioning while lowering generation from wind farms, gas plants, and some nuclear reactors. Great Britain imported power from the continent at about £470 per megawatt-hour between 5pm and 7pm, more than six times the June 2025 average of £71 per megawatt-hour and more than three times Monday’s price of £123 per megawatt-hour.
The National Energy System Operator said the purchases were needed to meet evening peak demand.
Market prices and plant outages In Germany, the Epex Spot exchange forecast prices above €545 per megawatt-hour on Tuesday evening, the highest level since June 2024. In France, prices exceeded €268 per megawatt-hour, the highest since August 2023, as the country prepared for temperatures up to 43C.
Five British gas plants reduced output because of high ambient temperatures, cutting 2.5 gigawatts of capacity—about 40 percent more than before the heatwave. Wind generation fell to 13-15 percent of UK supply, compared with an average of 30 percent in June 2025.
Supply measures and routine operations Solar output remained near 14 gigawatts, aided by clear skies, while a demand-response program is expected to reduce household use by 115 megawatts during peak hours. A spokesperson for the National Energy System Operator stated that balancing actions of this type are a routine part of operating the electricity system.
