Demand for renewables increases on Monday, while supply falls
German and French spot rates were not traded on Friday morning, but a lower output of renewables and an increased demand will likely drive prices up on Monday.
LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0737 GMT.
LSEG analyst Naser Hahemi stated that residual load was increasing throughout the region on Monday, due to a decrease in wind and solar energy supply, as well as increased consumption.
LSEG data indicated that German wind output would fall by 12.2 GW and reach 9.8 GW while French wind production was projected to rise 490 MW, to 1.7 GW.
LSEG data revealed that the German solar power output is expected to drop by 660 MW, to 14.7 GW. The French output will be down 1.6 GW at 3.8 GW.
The data shows that power consumption in Germany will rise by 1.8 GW Monday to 51.1GW. In France, demand is expected to increase by 2.5 GW up to 40.2GW.
The French nuclear capacity has increased by two percentage points, to 66%.
The German power contract for the year ahead fell 0.1%, to 87.05 Euros per Megawatt Hour (MWh), and on Thursday the French baseload contract 2025 closed with an offer/ask between 60 Euros/MWh - 61Euros/MWh.
The benchmark contract on the European carbon markets rose by 0.4%, to 71.21 euro per metric ton. (Reporting and editing by Eileen Soreng; Alban Kacher)
(source: Reuters)
