The climate-fuelled heatwave in Europe has added more than €700 million to electricity bills in France and Germany alone in just one week according to new estimates and analysis by 350.org.
Heatwaves have a well-known record to drive up electricity consumption and prices. Comparing 21–27 June 2026 as the heatwave window against a baseline of 14–20 June, the analysis shows that electricity prices have risen substantially as heatwaves drive up demand for cooling. Heatwaves in Europe have historically driven electricity demand and prices upwards, in particular in residual hours such as the early evening. For instance, the analysis shows that in Germany, power prices swung from €86 per megawatt-hour at midday to €566/MWh at 8pm last week.
The 350.org analysis is based on EUenergy electricity price and load data. It calculates the heatwave-related wholesale cost premium as the difference between total system costs during the heatwave:
Σ (observed load × observed price) − Σ (baseline load × baseline price)
The recent heatwave has broken records and tragically led to 1,300 excess deaths across Europe, besides tremendous public health, agriculture, and infrastructure burdens. In addition, heatwave-related energy price spikes are further straining European households.
Households, services and industry in two of Europe’s major economies have together spent an estimated €731 million more in additional electricity costs (Germany: €371 million; France €360 million) from June 21-27. These extra costs also come on top of elevated oil and gas prices due to the ongoing crisis at the Strait of Hormuz.
Andreas Sieber, 350.org Head of Political Strategy, said:
“This climate induced heatwave has been deadly, disruptive and costly. People are suffering, schools are closing, public infrastructure is straining, and some are losing their lives. Now, on top of the fossil-fuel price shock triggered by the Strait of Hormuz crisis, extreme heat is adding hundreds of millions in extra electricity-system costs and likely billions across Europe. Fossil fuel companies continue to profit from the crises they helped create. Governments should permanently tax excess fossil fuel profits and use the money to protect people from heat, bills and energy shocks.”
350.org is calling for a permanent windfall tax on oil and gas profits to fund climate adaptation and a just energy transition.
“Stronger taxation on fossil fuel companies could pay for better equipping countries to deal with extreme weather, as well as moving us faster to renewables. European governments must act now to save lives and lower energy bills.”
Notes to the Editor:
The 350.org analysis is based on EUenergy electricity price and load data. It calculates the heatwave-related wholesale cost premium as the difference between total system costs during the heatwave:
Σ (observed load × observed price) − Σ (baseline load × baseline price)
- Heatwave window: 21–27 June 2026. Baseline: 14–20 June 2026, to keep weekday and weekend patterns comparable, weekdays were matched in comparison: So 21 June is compared with 14 June, 22 June with 15 June, etc.
Germany
Heatwave date
Observed price
Avg load
Baseline date
Baseline price
Avg load
Daily premium
21 Jun
€83.00/MWh
44,011 MW
14 Jun
€25.12/MWh
45,968 MW
€60.0m
22 Jun
€124.09/MWh
54,033 MW
15 Jun
€74.26/MWh
55,472 MW
€62.1m
23 Jun
€174.91/MWh
54,878 MW
16 Jun
€113.08/MWh
55,326 MW
€80.2m
24 Jun
€207.84/MWh
54,480 MW
17 Jun
€117.63/MWh
54,806 MW
€117.0m
25 Jun
€133.54/MWh
53,670 MW
18 Jun
€139.92/MWh
52,239 MW
-€3.4m
26 Jun
€135.11/MWh
53,272 MW
19 Jun
€108.18/MWh
51,179 MW
€39.9m
27 Jun
€99.42/MWh
46,432 MW
20 Jun
€87.47/MWh
45,398 MW
€15.5m
Observed price
Avg load
Baseline date
Baseline price
Avg load
Daily premium
21 Jun
€61.62/MWh
40,944 MW
14 Jun
€27.83/MWh
37,973 MW
€35.2m
22 Jun
€106.80/MWh
48,996 MW
15 Jun
€75.84/MWh
43,724 MW
€46.0m
23 Jun
€136.12/MWh
51,394 MW
16 Jun
€95.51/MWh
44,173 MW
€66.6m
24 Jun
€157.87/MWh
52,352 MW
17 Jun
€98.32/MWh
45,534 MW
€90.9m
25 Jun
€116.02/MWh
52,291 MW
18 Jun
€93.90/MWh
46,998 MW
€39.7m
26 Jun
€127.23/MWh
51,531 MW
19 Jun
€83.68/MWh
48,406 MW
€60.1m
27 Jun
€88.03/MWh
46,256 MW
20 Jun
€73.02/MWh
43,397 MW
€21.7m
Source: https://euenergy.live/france
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