French up on demand impulse, German spot on more wind.
On Thursday, European spot power prices were mixed. Germany was down due to wind power additions, and France was up due to rising local demand. Future delivery contracts didn't trade after a day that saw nuclear power gains.
In a research report, LSEG analyst Guro-Marie Wyller stated that "wind power output will increase in Germany tomorrow, causing residual load to drastically drop in the country, especially at night and in the morning." This means there is little demand for thermal energy.
At 0740 GMT, the German baseload delivered for the day ahead was 14.3% lower at 54.3 Euros ($62.50 per megawatt-hour).
The French baseload day-ahead was higher by 57.7%, but at 41 euros/MWh it still represented a discount compared to the larger neighbouring market.
LSEG data shows that the German wind power production is expected to rise by 7.1 gigawatts to 19.3 GW this Friday.
The French nuclear capacity remained unchanged at 71%.
According to LSEG, the German demand for electricity was 51.7 GW Friday, down from the 53.6 GW of last week.
The temperature is expected to rise by 1 degree Celsius, to 24.8 degrees.
The benchmark annual delivery contracts for forwards did not trade following the market rally in the previous session due to concerns about possible corrosion at French reactor, Civaux 2.
ASNR has also stated that additional testing is needed.
The day-ahead key contracts closed below their previous highs. They had earlier reached a four-month-high in France and two-week-high in Germany.
After closing at 66.4 euro on Thursday, the French Calendar Year 2026 Baseload Contract was in an offer-bid range of 66-67 Euros.
After closing at 89.27 euro, the equivalent Cal '26 in Germany was trading between 89.3-90.3 euro. $1 = 0.8687 Euros (Reporting and editing by Vera Eckert)
(source: Reuters)
