(Bloomberg) -- French power demand is climbing to the highest level in weeks as temperatures plummet across Europe.
Power demand is forecast to exceed 46 gigawatts on Thursday and Friday, the highest level since a heat wave in July, according to Bloomberg models. The country’s mean temperature will plummet to its lowest level since April, according to forecasts from Weather Services International. Paris is expected to experience lows below 6C (43F) on Saturday.
While searing conditions this summer caused power price spikes, heating demand triggered by cold snaps poses a much larger threat to Europe’s grids. Markets are pricing in a moderate increase in demand over the coldest months but a steep drop in temperature combined with potential gas supply issues could put extra pressure on the region’s energy systems.
French power prices for delivery in October, when the heating season starts, are trading at €68.95 per megawatt-hour, about 25% higher than the contract for August according to Epex Spot SE show.
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