On Monday, the German forecast for renewables is expected to plummet.
Early on Friday, spot prices for Monday had not been traded as German renewable supplies were expected to plunge. Wind and solar are forecast to drop to about one-third of their Friday levels.
LSEG data shows that the German and French baseload power contracts for Monday were not traded at 842 GMT.
Francisco Gaspar Machado, LSEG analyst, predicts that residual load will increase on Monday as lignite and coal production increases in Germany.
LSEG data shows that the German wind output on Monday is predicted to be 6.1 gigawatts, down 12.1 GW compared to Friday. Meanwhile, French output will increase by 850 megawatts to 4.5 GW.
On Monday, the German solar power supply will drop from 4.8 GW down to 2.3GW.
LSEG analysis shows that wind power is expected to rise to 15 GW by Tuesday and Wednesday, then to 30 GW by the end of this week.
The French nuclear capacity remained unchanged at 75%.
On Monday, power consumption in Germany will increase by 3 GW. Demand in France will rise by 650 MW.
The German baseload 2025 price rose by 1.2%, to 82.95 Euros per Megawatt-hour (MWh), whereas the French equivalent was down 0.3%, at 67.25 Euros/MWh.
The European CO2 allowances expiring in December 2024 rose by 1.3%, to 63.65 Euros per metric ton.
Analysts at EnergiDanmark wrote in a note online that carbon allowances had reached their lowest levels in almost half a decade on Thursday. They tracked other markets in the late afternoon, but recovered on Friday, in what appeared to be a technical reaction. (Reporting and editing by Varun H. K.; Forrest Crellin)
(source: Reuters)
