this post was submitted on 12 Aug 2026
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Call me cynical but I do think an outlet called oil price dot com may not be entirely impartial when they report on this. That is not to say what they wrote here is wrong; I wouldn't know. It just has a touch of pot and kettle about it.
Since the power networks are linked and European countries import and export electricity, it wouldn't surprise me to learn that next to renewables power from gas stepped in to fill the nuclear gap. And the price for natural gas is often linked to a certain other commodity price.
I believe there is something of the kind, that the price of electricity just matches the highest production price, since you cannot differentiate which electricity comes from where in a grid. Si even if you have cheap renewable/nuclear energy, costs may rise if you have to use 'traditionnal' power plants. Im not sure of the details, i just heard the mechanism being explained once or twice.
It is called marginal pricing the wholesale electricity market uses which determines the spot price of electricity. It is based on the most expensive form of generation, typically gas, needed to meet demand regardless of how little is required. So here in the UK if 99% is generated by low cost renewable and only 1% is generated by expensive gas it all gets priced at the rate for the gas. Absolute madness when you live in a nation like the UK where all electricity retailers are getting their power from one national network operator.