RTE: French power exports to reach 22-year-high in 2024 due to abundant supply

French grid operator RTE stated on Wednesday that France's power output could be at its highest level in two decades, due to the abundance of gas for the winter months and the high availability of both nuclear and gas-powered power plants.

The return of the nuclear fleet to the market at the start of this year and the heavy rains that boosted hydropower production helped lower the market prices, which had spiked during the energy crisis of 2022.

RTE reported that France's electricity demand will reach 450 Terawatt-hours in 2024. This is 6% lower than the average of five years prior to Covid and is at a level similar to 2023.

RTE expects 50 GW in nuclear production by January 2025. This is the coldest month of the year, when demand is usually highest.

RTE reported that hydropower production in 2024 was also at an exceptional high level, with 62 TWh being produced by the end October. This is up 40% from 2023, and 15 years at its highest, while stocks are now at 2015 levels. (Reporting and writing by Benjamin Mallet, Forrest Crellin and Makini Brice. Editing and proofreading by Benoit van Overstraeten and Jane Merriman.)

(source: Reuters)