France and Germany Power Prices Top 300 Euros a Megawatt Hour Amid Heat Wave and Wednesday's Solar Eclipse

According to Bourse News, citing Bloomberg, European power prices surged after a fresh heat wave and reduced solar output from Wednesday's solar eclipse on August 12, 2026 (21 Mordad 1405). Data from the European Power Exchange (EPEX Spot) showed French and German power prices topping 300 euros per megawatt hour between 8 and 9 p.m. local time that day, above the level for the same window on Tuesday.

France's nuclear fleet, the backbone of Europe's power supply, has faced reduced output this year as high river water temperatures have kept some plants from using river water for cooling, while a jellyfish swarm off the country's northern coast has knocked out more than three gigawatts of capacity. E.ON CEO Leonard Birnbaum told Bloomberg Television on Wednesday that the drop in French nuclear output is being felt elsewhere in Europe too. The heat wave has also hit Danube-cooled reactors in Hungary and Romania, after the river's water level fell this month to its lowest in 90 years.