French spot prices drop on increased wind and nuclear energy supply

The spot price of electricity in France for Tuesday dropped due to an increase in the supply of wind energy and increased nuclear availability.

LSEG data shows that the French day-ahead contract at 1040 GMT was 27.50 euros per megawatt at 32.07 dollars, a 40.5% decrease from the price paid on Monday.

Data showed that the German equivalent is not traded.

According to LSEG analyst Marcus Eriksson, residual load in Germany is expected rise due to stronger demand, and a weaker supply of wind power. However, exports are expected as well.

LSEG data revealed that on the supply side German wind output was expected to drop by 4.2 gigawatts, to 23.8 GW, while French output is projected by 1.6 GW, to 9.2 GW.

LSEG data shows that the German demand for power is expected to increase by 2.3 GW at 56.2 GW while France's is expected to rise 1.6 GW at 50.1 GW.

Analysts at Engie EnergyScan say that temperatures in the region are expected to be around 2 degrees Celsius higher than normal, but that the likelihood of a colder week next week is increasing.

The French nuclear energy availability increased by two percentage points, to 72%.

The German baseload contract for the year ahead was up 1.5% to 88.10 Euros/MWh.

On Friday, the French position for the year ahead rose by 0.6% to 54.80 Euros/MWh.

The benchmark contract for the European carbon market 2025 was up 2% to 80.09 euro per metric tonne. The German state could be forced to pay 4.5 billion euro ($5.25 billion), according to estimates from a government-backed advisory group, over a three-year period, the newspaper Handelsblatt reported.

(source: Reuters)