France's net electricity exports rose to their highest level since 2012

Net electricity exports from France to neighbouring countries reached 9.2 TWh in May, the highest monthly figure in at least 12 years. Analysts said this was due to a combination of high electricity generation from nuclear, solar and hydro plants and subdued demand. International news outlet Montel reported.

Electricity generation from French nuclear power plants rose 10.5% year on year to 27.7 TWh in May, reaching its highest level for the month of May since 2019. This was made possible by an increase of 5 GW in available capacity, to an average of 41.5 GW. Nuclear power plants accounted for 67% of total generation and as much as 90% of electricity demand.

Hydropower generation saw an even sharper increase in May compared with last year, rising 44% to 7.3 TWh. Solar plants generated just under 2.5 TWh of electricity, the same as in May last year. Wind power generation, meanwhile, fell 25% year on year to 2.6 TWh.

Overall, electricity generation in France rose 9% year on year, according to analysts, while electricity consumption increased by only 2%. This allowed net exports to exceed 9 TWh.

"France had a substantial surplus and therefore exported large volumes of cheap electricity to neighbouring countries, supporting electricity prices in France and pushing them down in neighbouring countries," said Clement Bouilloux, a French market expert at EnAppSys.

International news outlet Montel added that electricity generation from French nuclear, solar and hydro plants rose by around 24 TWh in the first five months of this year compared with the same period in 2023. As a result, net electricity exports increased by 182% year on year over the same period.

The favourable situation is expected to continue for at least the next month, partly thanks to high water levels in reservoirs and ongoing snowmelt in mountainous areas.