The spot price of solar panels is affected by the higher German supply
The French spot electricity price for Thursday dropped on Wednesday, as the consumption in the area was predicted to decline. German solar power prices were expected to rise by nearly 40% on the same day.
By 0952 GMT, the price of French baseload electricity for Thursday had fallen by 8.4% to 84.50 Euros ($91.23).
The German equivalent contract was not traded.
Florine Enengl, LSEG analyst, said: "Residual loads are decreasing in Germany due to an increased solar power supply (on Thursday)."
LSEG data indicated that the German wind output is expected to fall by 3.9 gigawatts to 9.4 GW on Thursday, while France's wind supply will be down by 270 Megawatts to 2.9 GW.
The data revealed that the German solar power production was expected to increase by 4.8 GW - 6.4 GW.
TotalEnergies, a French oil company, announced on Wednesday that it would invest 160 million Euros ($172.74 millions) in six new projects for battery storage in Germany as part of a strategy to create an integrated electricity value-chain in the country.
The French nuclear capacity remained unchanged at 76%.
LSEG data shows that power consumption in Germany will fall by 680 MW on Thursday to 56.9 GW while it is projected to increase by 470 MW in France to 52.7 GW.
The German baseload contract for 2026 was down by 0.8% at 84.50 Euros/MWh, while the French baseload contract for 2026 was down by 0.8% at 63 Euros/MWh.
Benchmark European carbon permits fell 0.7% to 69.98 euro per metric tonne. $1 = 0.9263 Euros (Reporting and editing by Sharon Singleton; Forrest Crellin)
(source: Reuters)
