French prompts lifted due to tighter nuclear supplies, Germany untraded
The French wholesale power market on Thursday was boosted by a tighter supply of nuclear electricity due to reduced outputs and operational issues, while German contracts were not traded.
LSEG analyst Riccardo Paraviero stated that the outlook for the day-ahead price in Europe was negative, citing sustained winds generation and a reduction in consumption. He also mentioned the French Nuclear Supply Decrease.
LSEG data show that the French baseload day-ahead power contract rose 5.8% to 81.5 euros (94.61 dollars) per megawatt at 0855 GMT. The German equivalent contract was not traded after a close of 106 euros.
The strike of energy workers in France affected 1.4 GW nuclear capacity and 450MW hydro power, according to estimates.
The latest French nuclear availability was estimated using data from the utility EDF. It nominally dropped six percentage points over night to 69% of capacity.
On the other hand, Germany's wind power production is expected to increase 73% per day to 21.6 gigawatts on Friday.
The combined solar power generation in Germany and France was predicted to increase by 1.7 GW.
On Friday, Germany's power demand is expected to drop by 1 GW, to 56.7 GW, while France is forecast to fall by 600 MW, to 45.6 GW.
The German baseload year-ahead fell 0.8%, to 87.3 Euros/MWh. In France, the front-year settlement was not traded but showed a lower price.
The benchmark contract for the European carbon market 2025 was down 1% at 78.25 euro per metric ton.
Gauss Fusion is a European technology firm that announced on Thursday that it would hand over the first fusion plant design in Europe to the German Chancellery within ten days. ($1 = 0.8615 euro) (Reporting and editing by Susan Fenton; Additional reporting by Forrest Crellin, Paris)
(source: Reuters)