German spot contracts increase as imports are expected on Friday
The European power market split on Thursday, with Germany's contract for Friday increasing on the back of an anticipated drop in wind energy supply. Meanwhile, a French contract was expected to rise on a rising wind turbine power demand.
As of 1059 GMT, the German baseload for Friday had increased 14.6% to 192.50 Euros per megawatt-hour (MWh). French baseload power for the day ahead was down 5.3% to 144.50 Euros.
According to LSEG analyst Naser Hahemi, Germany will be a net buyer on Friday evening.
LSEG data shows that the German wind output will fall by 6.9 gigawatts to 64.1 GW this Friday, whereas supply in France should increase by 2.2 GW up to 4.7 GW.
Marcus Bokermann is the head of continental energy trading at Swedish utility Vattenfall. He said that the prices in the remainder of February will depend on whether wind speeds fall significantly below normal and whether or not the cold trend remains intact.
He said that if this is not the case, and more photovoltaic energy comes through fairly strongly, prices will likely drop. This was during a discussion on the sidelines at the E-World fair in Essen.
The data shows that solar power in Germany will increase by 1.1 GW up to 3.6 GW.
The French nuclear capacity is flat at 84%.
LSEG data shows that power usage in Germany will drop by 700 megawatts to 64.1 GW. In France, demand is expected to increase 1.6 GW to reach 65.3 GW.
The German power contract for the year ahead fell 3.4% to 96.2 euros/MWh, while French baseload contracts 2026 were down 0.8% at 71.25 euro/MWh.
Benchmark European carbon permits dropped 1.7%, to 78.98 euro per metric ton. (Reporting and editing by Christina Fincher; Additional reporting by Vera Eckert)
(source: Reuters)
