On Monday, expect a higher renewable output

The German and French power prices for the following Monday were not traded on Friday, but it was expected that a rise in wind and solar supplies throughout the region would have a negative effect on prices.

LSEG data revealed that the German Monday baseload contract had a range of bids and asks between 99 euros to 103.25 euro per megawatt-hour (MWh) as of 0953 GMT. This was below the Friday closing price at 124.50 Euro.

LSEG data revealed that the French Monday baseload electricity contract was not traded.

According to LSEG, the German wind energy output is expected to increase by 6.9 gigawatts to 12.3 GW Monday. The French wind power production was forecast to grow by 3.6 GW up to 7.3 GW.

The data revealed that the German solar power production is expected to increase by 4.5 GW up to 10.9 GW.

Guro Marie Wyller, LSEG analyst, said that on Monday, the wind power was slightly higher than it was on Friday. This is paired with a rise in solar energy output to reduce the residual load.

The French nuclear capacity increased by one percentage point, to 78%. In an interview with Belgian financial newspapers Tijd & L'Echo, the CEO of EDF's Belgian subsidiary said that Luminus was willing to discuss building new nuclear power plants in Belgium.

LSEG data shows that power consumption in Germany will fall by 1.1 GW and demand in France will drop by 1 GW.

The German power contract for 2025 has fallen 2.2%, to 62.45 euro/MWh.

The benchmark contract on the European carbon markets fell by 0.5%, to 70.25 Euros per metric ton. (Reporting and editing by Shreya biswas; Forrest Crellin)

(source: Reuters)