French prompts are affected by higher wind output
French spot prices were impacted on Monday by an increase in expected wind power production across the majority of the region despite forecasts for higher demand.
LSEG data shows that the French baseload electricity for Tuesday at 1052 GMT was 26.5 euros (30.07 dollars) per megawatt-hour, a 50.9% decrease from Friday's price on Monday. The German power for the day ahead was not traded.
Naser Hashemi, LSEG analyst, noted that countries in the region also showed a similar pattern. Higher wind production compensated for the rise in consumption and led to a flat residual charge.
LSEG data indicated that the German wind output is expected to increase by 1.2 gigawatts on Tuesday, while French output will rise by 1.9 GW up to 4.7 GW.
Data showed that the German solar power generation is expected to drop by 790 Megawatts (MW), or 17.5 GW on Tuesday.
On Tuesday, power consumption in Germany will increase by 1.9GW to 54.2GW. In France, demand is expected to increase by 490MW to 43.9GW.
The French nuclear capacity has fallen five percentage points, to 63%.
The German baseload power for the year ahead fell by 2.6%, to 81.05 Euros/MWh. In comparison, the French equivalent dropped 0.4% to 59.99 Euros/MWh.
The benchmark contract on the European carbon CFI2Zc1 market was down 1.8% to 65.24 euro per metric tonne. ($1 = 0.8814 euro) (Reporting and editing by Varun H K; Reporting by Alban Kcher)
(source: Reuters)
