French power prices soared on concerns that scorching summer temperatures will lead to potential nuclear curtailments as well as lower hydro availability. Month-ahead prices jumped as much as 11.7%, to the highest level since late March, according to data from EEX. Northwest Europe is reeling under the first heat wave of the summer and daytime temperatures in Paris are likely to touch 33C on Tuesd...
French power prices soared on concerns that scorching summer temperatures will lead to potential nuclear curtailments as well as lower hydro availability. Month-ahead prices jumped as much as 11.7%, to the highest level since late March, according to data from EEX. Northwest Europe is reeling under the first heat wave of the summer and daytime temperatures in Paris are likely to touch 33C on Tuesday. Previous hot summers have halted French nuclear reactors as the temperatures of the river water cooling them rose. Last year, some coastal reactors were disrupted as marine heat waves resulted in jellyfish clogging filter drums. Read More: Deadly Heat Wave Breaks May Records Across Northwest Europe France’s nuclear fleet is the backbone of Europe’s power market, meaning any change in output affects not just domestic electricity prices, but also the wider region. For nuclear plants, the main concern is low river levels and unusually high water temperatures, which can disrupt reactor cooling. The reactors most exposed are those using the Rhône and Garonne rivers in southern France — including Bugey, St. Alban, Cruas, Tricastin and Golfech, according to William Peck, senior European power analyst at Energy Aspects Ltd. Water temperatures in the Rhône are already rising sharply. In Geneva, the river reached a May record of 21.3C this weekend, up from just 13C a week earlier, according to data by Swiss authorities. If hot weather forecasts for the second half of June materialize, Peck sees the first significant bullish impact from nuclear outages, weaker hydro output and higher power demand to emerge by the end of the month. French Month-ahead prices were trading 8.7% higher at €33.65 per megawatt-hour at 12:00 p.m. local time. The contract for the third quarter also rose as much as 6.1%. In comparison, equivalent front-month prices in Germany , Europe’s biggest market, rose as much as 6.2%.
尽管近期发生多轮袭击，但投资者对中东和平谈判仍持乐观态度，叠加人工智能带动芯片股走强，美国股指期货周二创下历史新高。 美国国务卿马尔科・鲁比奥周二表示，与伊朗的协议谈判可能 “还需数日”；而美国总统唐纳德・特朗普周一在 Truth Social 发文称，美伊谈判进展 “顺利”。 布伦特原油期货涨幅一度达 3%，全球股市则震荡上行。市场仍不确定能否达成协议以恢复霍尔木兹海峡的航运通行。 Capita...
One Raffles Place, a major office complex in the heart of Singapore’s commercial center, is attracting interest from multiple suitors, according to people with knowledge of the matter. Parties that are looking to acquire the asset, which is being marketed for more than S$2.3 billion ($1.8 billion), include father-and-son property tycoons Raj Kumar and Kishin RK , Malaysian developer IOI Properties...
One Raffles Place, a major office complex in the heart of Singapore’s commercial center, is attracting interest from multiple suitors, according to people with knowledge of the matter. Parties that are looking to acquire the asset, which is being marketed for more than S$2.3 billion ($1.8 billion), include father-and-son property tycoons Raj Kumar and Kishin RK , Malaysian developer IOI Properties Group Bhd. and Singapore asset manager CapitaLand Investment Ltd. , the people said, asking not to be identified because the information is private. The development, which consists of two iconic office towers and a retail mall, is just one of numerous commercial real estate assets in a market seeing a renewed buzz because of lower borrowing costs and a greater willingness of owners to discuss pricing. Read More: Booming Property Market Masks Growing Fears: Singapore Edition OUE REIT , a real estate investment trust backed by the wealthy Indonesian Riady family, controls an 81.54% interest in the property. United Overseas Bank Ltd. , one of Singapore’s largest lenders, holds the remaining 18.46% and occupies space in the complex. The REIT said in an exchange filing in February that it is conducting an exercise to determine market interest in the development along with UOB. OUE REIT will determine the appropriate action taking into account the results of the exercise, a spokesperson said. Representatives for UOB declined to comment, as did Kumar and Kishin’s property firm RB Capital Pte . CapitaLand and IOI didn’t respond to requests for comment. But challenges remain. One obstacle is the substantial asking price of such assets, which makes it difficult for a single buyer to acquire — an issue that is also facing the sale of a S$5.7 billion asset in the city center, Marina One. One Raffles Place was worth S$2.37 billion based on a valuation of the REIT’s stake at the end of 2025. It has 65,309 square meters (702,980 square feet) of lettable space. The asking price is also se...