Spot prices drop on rising renewable supply
The French spot electricity price for Thursday dropped on Wednesday, as the renewable energy supply was expected to increase and demand to fall in most countries of central Western Europe.
French baseload electricity for Thursday fell 10.6% to 81.35 Euros ($89.66 per megawatt-hour (MWh) at 0836 GMT.
The French equivalent contract was 36.5% cheaper at 26.25 Euros/MWh.
In Germany, residual load is expected decrease on Thursday due to an increase in renewable supply. Riccardo Paraviero, LSEG analyst, said that the trend was the same for the rest, except Belgium.
LSEG data indicated that the German wind output is expected to increase by 2.5 gigawatts on Thursday, to 12.1 GW. In France, wind production will rise by 1.1 GW from 6.1 GW.
The data also showed that the German solar power production is expected to grow by 1.2 GW up to 13.7 GW.
The French nuclear capacity remained unchanged at 72%.
EDF data shows that the Flamanville 3 reactor will return to production after two months outage during its ramp-up stage on Friday.
Emeric de Vigan of 42 Advisors in Paris, the energy consultancy, said that the problem was serious but noted that it is still early on in the commissioning phase, when problems can arise.
LSEG data shows that power consumption in Germany will fall by 150 Megawatts (MW) on Thursday to 55.4 GW. In France, it is projected to drop by 1.9 GW at 45.6 GW.
As the tariffs of U.S. president Donald Trump take effect, forward contracts continue to fall in line as gas, oil, and carbon prices. This has raised fears about a global recession which would reduce energy consumption.
The German baseload contract for 2026 was down 1.3% to 78.80 Euro/MWh while the French baseload contract for 2026 was down 1.3% to 60.80 Euro/MWh.
Benchmark European carbon permits fell 1.6% to 61.07 euro per metric tonne. $1 = 0.9073 Euros (Reporting and Editing by Barbara Lewis; Forrest Crellin)
(source: Reuters)
