German wind supplies are down, prompting a drop in prices.
The European power prices for the following Monday were not traded on Friday due to the expected decline in wind power supplies in Germany and declining demand.
LSEG data shows that the German and French baseload contracts for Monday were not traded as of 1102 GMT.
LSEG data indicated that the German wind power production was expected Monday to drop by 4 gigawatts to 4.8 GW. The French wind output, however, was expected to increase 460 megawatts to 1.5 GW.
Marcus Eriksson, LSEG analyst, says that a lower wind supply will put upward pressure on Monday's German spot price, while thermal availability should improve.
The French nuclear capacity is flat at 92%.
LSEG data shows that power consumption in Germany will drop 980 MW, to 63.5 GW despite temperatures expected to be just below freezing on average.
LSEG data shows that demand in France will drop by 2.7 GW, to 72.8 GW, on Monday. Average temperatures are expected to increase in France by 1.2 degrees Celsius up to 2.5C.
The German power contract for the year ahead rose by 1.9%, to 95.30 Euros ($98.18), while French baseload contracts 2025 were up 1.9% with 71.25 Euros/MWh.
The benchmark contract on the European carbon markets gained 1.3% to 79.65 Euros per metric tonne.
Carbon contracts reached a 12-month peak earlier, and have been rising over the last few weeks due to cooler weather and a weaker renewable production that has increased demand for electricity generated by fossil-fuel generators. ($1 = 0.9707 euro) (Reporting and editing by Vijay Kishore; Forrest Crellin)
(source: Reuters)
