OGZPY - Nuclear strike reduced wind record German power price - Euro energy update

German electricity prices soared ~13% Monday, as a high-pressure weather system across Europe is expected to reduce wind generation.  The French Government has requested Electricite de France (OTCPK:ECIFF) restart offline nuclear capacity early, following news last week that two reactors would be offline for repairs through mid January. Separate from the reactors in maintenance, EDF has taken the Bugey-4 reactor offline on account of a labor strike today. Nearly all of Western Europe now paying upwards of 300 Euros / mwh, relative to 25-50 Euros / mwh at this time last year. Meanwhile, natural gas prices at the Netherlands trading hub hit a new record this morning, up ~5% despite news of a looser LNG market in Asia sending supplies to Europe (now trading ~$46/mmbtu, versus US gas prices of ~$4/mmbtu). France has confirmed that Companies will cut power use in exchange for payments from the Government, in order to avoid

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Nuclear strike, reduced wind, record German power price - Euro energy update