French spot prices drop on low holiday demand and a rebounding nuclear sector
The French spot price for electricity on Friday dropped on Thursday as the wind supply and French availability increased. Demand is expected to drop during Assumption Day, observed in France and Germany.
French baseload day-ahead was down 49.2% to 46.75 Euros per Megawatt Hour (MWh) at 0804 GMT. The German equivalent contract, which closed at 111.25 euro on Wednesday, was not traded.
LSEG data revealed that German wind power production was projected to increase by 4.9 gigawatts to 8.7 GW. French wind power is expected to rise by 2.3 GW up to 4.3 GW.
The LSEG forecast showed that the wind supply would drop to 5 GW by Monday, and then gradually increase throughout the week until it reaches 13 GW by next Friday.
RWE, Germany’s largest power producer, reported lower-than expected core profit for the half-year of 2025. The company cited weak wind conditions and a muted trade business.
The French nuclear capacity increased by five percentage points, to 74% total, as three reactors were returned after maintenance.
Operator EDF announced that two of the four Gravelines nuclear reactors, which were shut down Monday because of a "massive, unpredictable" jellyfish swarm getting stuck in the filters, have now returned to operation. The other two will be restarted gradually.
LSEG data shows that the power demand in Germany is expected to drop by 420 megawatts from Friday, to 53.2 GW. In France, consumption will fall by 4.2 GW at 40.5 GW.
The data shows that Monday's demand in Germany is expected to be lower, at 51 GW. Demand in France, however, is expected to slightly rebound from the holiday, at 41 GW.
The German baseload for the year ahead fell 0.4%, to 85.20 Euros/MWh. The French baseload for 2026 was not traded with a bid of 61 euro.
Benchmark European carbon permits CFI2Zc1 dropped 0.5% to 71.40 euro per metric ton. (Reporting and editing by Sonia Cheema; Additional reporting by Vera Eckert)
(source: Reuters)
