Germany – which has phased out nuclear power – is not only the most electricity-hungry economy in the EU. It is also more dependent on renewable energy sources than most other countries.
The reserve power in Germany, when "Dunkelflaute" strikes, comes from significantly more expensive gas- and coal-fired power plants.
The electricity prices in Germany peaked at 1,013.2 euros per megawatt-hour (approximately 12 kronor per kWh) during the afternoon – significantly higher than the peaks during the crisis in 2022.
The electricity price peaks in Germany are affecting neighboring electricity areas, including Denmark and southern Sweden.
The electricity prices in France are simultaneously unusually high, but not higher than normal for a cold winter day. In the EU's second-largest economy, France, nuclear power production is simultaneously at its highest level in five years.
French EDF is operating 56 reactors with a production of 51,906 megawatts on Thursday morning, according to network operator RTE.
Europe is still not where it wants to be in terms of production and storage capacity, and then you get expensive periods like these, says Daniel Muir, analyst at S&P Global Commodity Insights in London.
