French spot prices increase on lower wind output

The French prompt electricity prices surged Tuesday due to a drop in supply of wind power and a slight increase in demand.

At 1026 GMT on Tuesday, the French baseload power rose by 81.1% and was trading at 67 euros ($69.89). The German equivalent had yet to trade.

LSEG data indicated that the German wind power production was expected to increase by 850 Megawatts (MW) to 30.7 gigawatts. In France, wind output is expected to drop 5.5 GW down to 11.7 GW.

The data revealed that German solar production is expected to grow by 760 MW, to 3,0 GW.

The French nuclear capacity is flat at 82%.

LSEG data revealed that power consumption in Germany was expected to increase by 530 MW on Wednesday to 62.2 GW while it increased by 450 MW in France to 61.8 GW.

The German baseload contract for 2026, TRDEBYZ6, rose 0.4% to 92.30 Euros/MWh. Meanwhile, the French baseload contract for 2026 increased by 0.1% to 65.85 Euros.

The benchmark European carbon permits fell 0.1% to 79.40 Euros per metric tonne.

Analysts at Energi Danmark said that the European carbon market dropped sharply on Monday. This was in line with gas market trends and a correction after last week's gains.

(source: Reuters)