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VNU mechanism

France's 2026 regulated nuclear sale mechanism; replaced ARENH; VNU windfall levy dormant this year.

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#20 22 Jun
#15 3 Jun

passed French day-ahead clearing near EUR 9 through to industrial buyers

European Energy Markets: France €9, Germany €103: record spread
#13 1 Jan

replaced ARENH from 1 January 2026, shifting French industrial pricing to market-linked rates

European Energy Markets: VNU replaces ARENH; French industrial pricing shifts