The value of French nuclear power in the European electricity system – Aurora/Sfen 2026 study

France recorded a new export record in 2025, with 92.3 TWh exported, equivalent to 17% of its generation. Wholesale prices are on average lower in France than in neighbouring countries. The country benefits from a central geographic position and a high level of interconnection, with 23 GW of export capacity and 18 GW of import capacity. At a time when new discussions are under way at European level to strengthen security of supply and make electricity prices more competitive, Sfen sought to assess the value provided by French nuclear power within the European electricity market.

Sfen commissioned Aurora Energy Research to carry out a forward-looking modelling exercise of the European short-term power system for 2026[1], with a particular focus on six countries: France, the United Kingdom, Belgium, Germany, Italy and Spain. The study provides insight into how markets operate and into the economic benefits of cross-border exchanges for each country.

The study highlights how French nuclear power:

• Provides value that extends beyond France itself. On a daily basis, together with renewables, it also helps reduce wholesale prices and CO2 emissions in neighbouring countries.
• Is fully called upon during seasonal periods of stress on the power system, such as temperature drops and wind/solar shortages, in order to contain increases in wholesale prices and CO2 emissions. A voluntary or involuntary reduction in nuclear capacity in France has a significant impact on neighbouring countries.
• Makes a major contribution to European security of supply during extreme weather events.
• Helps mitigate the impact on electricity markets of gas price increases during external crises.

Through these different analyses, the study shows France’s role in the regional balance. The Western European power system is now the right scale at which to understand the strategic value provided by nuclear power in containing wholesale prices and emissions across the European electricity system.