German contracts untraded
French spot power fell on Thursday as the weather warmed up and demand decreased. German spot power, however, was traded at a premium to France due to lower green energy production.
LSEG analyst RiccardoParviero stated that the expected losses in German Wind Power Generation remained a positive factor for the area, even though usage is also declining and thermal availability has strengthened.
At 0840 GMT, the French baseload price for the next day was down 18.4% to 62.0 euros (66.96 dollars) per megawatt-hour (MWH).
The German day-ahead electricity had not yet traded, but settled at 90.50 Euros.
LSEG figures show that the French demand for power is expected to decline by 2.2 gigawatts to 59.6 GW while German demand will fall by 1.2 GW also to 59.6 GW.
The temperatures were expected to increase on Friday, but then fall the following week. This resulted in a strong rise in French baseload for the week ahead.
Germany expected wind output to drop by 6.9 GW, to 9.6 GW the next day. Solar output would also be down by 700 MW, to 10.9 GW.
The French nuclear capacity remained unchanged at 79%.
Dutch wholesale gas prices fell on Wednesday after the European Commission proposed a two year extension of winter storage filling goals while signaling flexibility with interim targets.
The German baseload contract for the year ahead was virtually unchanged, at 81.0 Euros/MWh. However, its French counterpart was not traded after closing at 61.30 Euros.
The benchmark contract for the European carbon market 2025 fell 0.4%, to 68.5 Euros per metric ton.
It said that the Paris-based EPEX SPOT exchange traded 71.7 terawatt hour (TWh), 7.8% more electricity than it did in February 2024.
KernD, a German nuclear technology company, said that idled reactors in the country could be restarted. However operators have already ruled this out.
Germany's energy regulator launched a consultation to change the fees that power grid operators are allowed to charge.
(source: Reuters)
