Electricity prices in France have surged 11-fold over the past year, and average household energy bills in the UK may rise to £4,188 per year—how should we view the ongoing deterioration of Europe’s energy crisis?

In France, electricity costs €1130 per megawatt-hour (approximately ¥7.73 per kilowatt-hour), while average UK household energy bills may exceed ¥4,000 per month next year. The European energy crisis continues to intensify: electricity prices in Germany and France are breaking records almost daily, with both markets seeing price surges exceeding 25% on Friday. France’s base-load electricity price for 2023 delivery hit €1,130 per megawatt-hour (≈¥7.73/kWh), up 25% intraday—the first time ever surpassing €1,000. Germany’s equivalent surged 33% intraday to €995/MWh (≈¥6.81/kWh), representing a roughly 70% weekly increase—equivalent in oil-market terms to $1,600 per barrel. According to Caixin Global, extreme heat has raised river temperatures beyond safe levels for cooling nuclear reactors; droughts have also lowered river levels, hampering coal transport by barge along key waterways like the Rhine—critical for German coal-fired power plants—thereby constraining electricity supply across Europe. France’s electricity prices have risen at least 11-fold year-on-year As reported by CCTV News on August 26, AFP reported that French electricity prices hit a new high: the wholesale price for 2023 electricity exceeded €1,000 per MWh—up from approximately €85/MWh a year earlier, an increase of at least 11 times. Multiple factors drive this sharp price surge: the Russia-Ukraine conflict has pushed up energy prices broadly, lifting electricity costs; meanwhile, France—a nuclear powerhouse—has seen significant reductions in nuclear output due to corrosion issues at EDF reactors, prompting widespread shutdowns. Historically one of Europe’s largest net electricity exporters, France has lost that status as its nuclear generation this year fell to a more than 30-year low. Grid operator RTE data shows nuclear reactor availability stood at just 42% as of Friday. EDF announced delays in restarting several nuclear plants beyond prior expectations. With natural gas still scarce, these nuclear facilities will serve as France’s primary electricity source this winter. Kathryn Porter, energy consultant at Watt-Logic, stated: “The French electricity market this winter will be extremely tight—especially during periods of low wind. European countries may simultaneously seek electricity imports, posing major challenges; some nations may even impose industrial power rationing.” Over half of surveyed Germans have already reduced energy consumption According to CCTV News, a recent German survey found that over half of respondents have already cut back on energy use amid fears of an impending energy crisis. The poll was commissioned by Business Insider magazine and conducted by German polling firm Westfalen. Citing the results, Deutsche Presse-Agentur reported on the 25th that 54.2% of respondents admitted reducing energy usage, 35.9% refused to conserve energy, and 9.9% remained undecided.

Domestically produced high-neck sweaters are keeping Europeans’ cold necks warm.

▲ October 14, 2022, Shaoxing, Zhejiang Province: Workers inspect electric blanket controllers. Photo / China News Service reporter Xiang Jing The most expensive winter on record Orders for warming and heating products from Europe continue surging—driven largely by consumers’ inability to afford conventional heating. Walking into a budget store in the Netherlands, Leo felt as though he’d returned to a rural Chinese market: rows of thick, fleece-lined slippers and striped or floral-patterned heavy pajamas lined the aisles—familiar, cozy, and comforting. For over €50, he bought himself a full set—from head to toe—and later ordered an electric blanket online, finally feeling he’d “successfully rescued himself.” Leo has lived in the Netherlands for three years with his girlfriend in a 60-square-meter apartment. In previous winters, they relied entirely on central heating. Dutch winter temperatures—similar to those in the UK and France—typically hover between 0°C and 5°C, occasionally dipping below zero—comparable to Shanghai or Hangzhou in China. Without heating, the damp chill is pervasive. But this year, he simply can’t afford it anymore. “I dare not turn on the heating”—a sentiment shared by many Europeans. The energy crisis has sent natural gas and electricity prices soaring across the continent. The Dutch TTF natural gas benchmark—widely viewed as Europe’s gas price barometer—reached €169.06 per MWh in early October, nearly nine times higher than a year earlier. Electricity prices followed suit. In August, France’s 2023 base-load electricity price hit €1,130/MWh—the first time in European history that electricity prices surpassed €1,000/MWh, with year-on-year increases exceeding tenfold. Staring at his bill—tripled in size—Leo was speechless. Social media platforms overflow with users posting their bills: one person couldn’t believe theirs had jumped from €500 in Q1 to €1,000; another complained theirs rose from £100 to £320 per month—more than triple—and declared he’d henceforth rely solely on “drinking hot water” to stay warm. According to CCTV News reports, residents protested in central London, where one resident told reporters on camera: “It was £97 per month before April 2021—now it’s £233. It’s too expensive—I don’t know where to get all this money!” Bilibili content creator @MarshmallowCouple ran small experiments: under current gas and electricity prices, boiling a cup of instant noodles costs ¥2 in electricity; taking a shower costs ¥10; washing hands with hot water for 16.5 seconds costs €0.033—about ¥0.84 per minute. When tallied up, this may well be the most expensive winter in European history. By October, cold weather began sweeping across Europe. Many foreign media outlets forecast this winter could be the coldest in two decades. Faced with sky-high natural gas and electricity bills, one foreseeable outcome is that maintaining the same level of comfort as in previous winters—by simply turning on the heating—will inevitably mean bleeding wallets. Some considered switching to air conditioning—but quickly dismissed it. On German Amazon, several AC units cost over €600, while installation fees exceed €1,500—more than the unit itself—not to mention subsequent maintenance and electricity costs.

French Power Prices Exceed €100 for First Time Since 2023

15 hours ago

French year-ahead power prices surged above €100 per megawatt-hour for the first time since late 2023, driven by geopolitical tensions and reduced nuclear output. The government aims to control bills while EDF maximizes production amid supply constraints.

bloomberg

2026-10-08

French Power Prices Exceed €100 for First Time Since 2023

French Power Prices Exceed €100 for First Time Since 2023

FAQ