Wind supply increases, resulting in a decrease in spot prices

The European prompt power price for Monday was untraded Friday, on the expectation of a rising wind supply across the board. This was slightly offset by a higher consumption expectation as temperatures fell.

At 0942 GMT, the German and French baseload electricity contracts for Monday had not been traded.

LSEG data indicated that German wind power production was expected Monday to increase by 2.3 gigawatts to 37.6 GW. French wind power was expected to grow 6 GW to 15 GW.

The French nuclear capacity fell by one percentage point, to 81% total, as the Tricastin 2 Reactor went offline due to an unplanned failure.

Nuclear operator EDF reported that the Tricastin 2 reactor automatically shut down on Thursday and that teams are currently performing diagnostics.

LSEG data shows that power consumption in Germany will increase by 370 Megawatts (MW) on Monday, as temperatures are expected to drop by 2.5 degrees Celsius in Germany to 4.3C.

LSEG data revealed that in France, the demand for electricity is expected to rise by 3.8 GW, to 60.8 GW, as temperatures are projected to drop by 4.4C, to 6.1C.

The German power contract for the year ahead fell by 0.6% to 94.70 Euros ($100.24), while France's 2025 baseload contract dropped 0.7% to 74.50 Euros/MWh.

The European CO2 allowances in December 2024 fell by 0.2% to 67.20 euro per metric ton. $1 = 0.9457 euro (Reporting and editing by Forrest Crellin)

(source: Reuters)