French nuclears became hot topic (again)
French nuclear safety authority reviews EDF's nuclear power plant parts.
Power prices in France and Germany accelerated their rally in the last days. The main reason for the price increase was the announcement of the French nuclear safety authority on checking all components made in the Creusot foundry. Market participants remember a similar situation from last autumn, when the authority prohibited restarting many nuclear power plants that ran regular maintenance earlier for security reasons. In 2016 this resulted in a rally of power and EUA prices as market supposed that the missing French capacities would be replaced by – mainly fossil fuelled – German ones. This time the authority did not oblige EDF, the operator of the nuclear plants to halt production. Only documentation will be reviewed.
Higher power prices lifted the EUA Dec17 to 5.96 euro in Thursday’s trading, but by the end of the day the price returned to Wednesday’s settlement level (+0.2% d/d).