French Power Workers to Resume Strike; Prices Jump on Expected Output Cut

[phantom power]

French power-plant workers are set to go on strike this evening in protest against planned pension reforms, cutting output at all types of plants, a representative for the CGT union said.

The strike is scheduled to start at about 10 p.m. tonight and last until tomorrow evening. French power prices for next day delivery rose as much as 8.6 percent to 80.19 euros ($110.79) a megawatt hour on the Epex Spot SE Exchange in Paris.

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France, traditionally an exporter of power, has this month been forced to rely on imports to meet demand because of strikes and as EDF keeps reactors halted for maintenance.

Imports were scheduled to peak between 8 a.m. and 9 a.m. Paris time, reaching as high as 6,438 megawatts, about equal to the output of five nuclear reactors, according to data on the website of grid operator Reseau de Transport d’Electricite. France will import power from Germany, the U.K. and Belgium during all hours today, the company said.

http://www.bloomberg.com/news/2010-10-27/french-power-workers-to-resume-strike-prices-jump-on-expected-output-cut.html