Europe's ongoing heatwave drives up summer electricity demand, reversing the downward trend in power consumption

```htmlGolden Ten Data reported on July 15 that the ongoing heatwave in Europe is driving up summer electricity demand, reversing the downward trend in power consumption that has persisted since the energy crisis in 2022. According to data from the European Network of Transmission System Operators for Electricity (ENTSO-E), from April to mid-July this year, France's average electricity demand rose to the highest level for the same period since 2022. This marks the first year-on-year growth in electricity demand during this period since the energy crisis, ending the three-year streak of decline. Data from the European Energy Exchange (EEX) reveals that the price of electricity for next-month delivery in France has surged roughly fourfold since the end of April, exceeding €80 per megawatt-hour by the end of June and remaining high this month. This spring, power futures prices plunged due to strong solar power generation and weak seasonal demand, but as expectations of persistent high temperatures grew, the market quickly reversed its trend.```