The rising renewable generation has an impact on spot prices
The European power prices for the Friday were lower on Thursday due to the forecasted increase in wind power generation throughout Europe and a decline in demand.
Naser Hashemi, LSEG analyst, says that wind power is increasing in Germany and France every day, resulting in a reduction in residual loads.
He said that Germany will export up to 14 gigawatts in the middle the day to the Nordic region and neighboring countries. France, however, will remain a net-exporter throughout the day.
LSEG data revealed that the German baseload electricity contract for Friday had fallen 31% to 43.50 Euros per Megawatt Hour (MWh) at 0932 GMT. The French equivalent contract fell 9% to 32.75 Euros/MWh.
LSEG data indicated that the German wind power production was expected to increase by 8.7 GW this Friday to 26.7 GW while French output is projected to grow by 3.8 GW up to 7.2 GW.
The data indicated that the German solar supply is expected to increase by 410 MW on Friday to 14 GW.
The French nuclear capacity fell by 2 percentage points, to 71% total, as Tricastin 1 went offline for maintenance.
The data shows that power consumption in Germany is expected to drop by 390MW on Friday to 53GW while France's demand will fall by 470MW to 41GW.
The German power for the year ahead was up 0.6% to 96.65 Euros/MWh, while French baseload 2025 was not traded after closing on Wednesday at 83.10 Euros/MWh.
European CO2 allowances in December 2024 increased by 0.2%, to 72.26 euro per metric ton. Reporting by Forrest Créllin Editing David Goodman
(source: Reuters)
