French Power Prices Extend Plunge as Demand Falters [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — French power prices extended their decline due to weak demand and robust performance from the nation's nuclear fleet. April futures on Friday fell as much as 4.3%, dropping for a fourth consecutive session, according to data from European Energy Exchange AG. The contract is on course for an 18% weekly decline. Article content Energy consumption throughout Europe remains seasonally low following a mild winter and reduced industrial demand, a lingering effect of the energy crisis of recent years. In France, where nuclear energy is the backbone of the power supply, the reactor fleet is back to strength following prolonged maintenance shutdowns. Article content “France is very over supplied at the moment,” said Daniel Muir, an analyst at S&P Global Commodity Insights, adding that the nation is also receiving power from Spain. “Demand is systemically lower and not budging,
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