German power prices are falling while France's are rising
On Tuesday, the European wholesale power markets moved in different directions. Germany's spot fell from its near two-year peak due to calm and overcast conditions that reduced its wind and solar production.
The French power price for the day ahead rose by 30.4%, to 131 euros per megawatt-hour (MWh), at 0920 GMT. This was due to an increase in demand after Monday's Armistice holiday.
The German equivalent remained lower, reflecting Germany's current import dependence.
The baseload of Germany for delivery on Tuesday fell 6.1% compared to Monday's closing price at 155 Euros.
Analysts at LSEG noted an increase in wind and thermal power capacity on the supply side and an increasing demand throughout the region.
On Wednesday, the German wind output is expected to rise by 1.7 gigawatts to 8.8 GW while French nuclear capacity increased one percentage point to reach 78%.
EDF, the operator of the Golfech 2 reactor, said that the unplanned outage occurred late Sunday night to perform maintenance on the non-nuclear portion of the plant.
The German power consumption is expected to increase by 1.4 GW, to 61.4 GW. In France it will rise 5.1 GW, to 57.6 GW.
German 2025 baseload fell 1.5% to 91,5 euros after reaching a 10-week-high on Monday. French 2025 baseload fell 0.3% to 77 Euros.
Vattenfall, a Swedish company, said it would invest 5 billion Euros in Germany by 2028. This will be mainly in solar and wind parks as well as charging stations for electric vehicles.
Robert Habeck, Economy Minister, said Monday that he would send a bill for the construction of new gas-fired, hydrogen-ready generation plants for state governments to discuss, in order to get it passed during the remaining term of this cabinet.
Utility EnBW increased its investment by 40% in the first nine-months of this year to pursue its energy transformation. ($1 = 0.9440 euros) (Reporting and additional reporting by Forrest Krellin; editing by Kirsten Doovan)
(source: Reuters)
