On Monday, the forecast calls for a lower wind demand and an increase in wind supply.

On Friday, European prompt power prices were not traded for Monday due to the expectation of a higher wind power supply in the region as well as lower demand.

At 1050 GMT, the German and French baseload electricity contracts for Monday had not been traded.

LSEG data indicated that the German wind output is expected to increase by 16.4 gigawatts on Monday, to 28.7 GW. The French wind output should gain 4.6 GW up to 12.8 GW.

Naser Hashemi, LSEG analyst, said that the residual load in Germany was lower on Friday due to higher wind and reduced consumption.

The French nuclear capacity remained at 85 percent of the total.

LSEG data shows that power consumption in Germany will fall 1.9 GW, to 59.7 GW, on Monday due to the increase in average temperatures of 10.7C to 11.1C.

LSEG data shows that in France, the demand will drop from 53.9 GW to 10.6 GW due to an increase of 10C to 13C.

The German power contract for the year ahead continued to rise from Thursday. It rose 0.5%, reaching 102.5 euros ($106.85), per megawatt hour (MWh), while the French baseload contract for 2025 fell 0.3%, at 81.8 euro/MWh.

Analysts at Energi Danmark stated that the bullish trend in the gas market is also driving German electricity prices higher.

The European CO2 allowances in December 2024 fell by 0.4%, to 69.7 euro per metric ton. $1 = 0.9593 euro (Reporting and editing by Devika Syamnath).

(source: Reuters)