French spots are feeling the effects of a warmer, windier climate
The French spot electricity contract fell on Monday, as a stronger wind output and milder temperature weighed on the?demand.
LSEG data shows that the French day-ahead power contract at 1102 GMT was 57.55?euros (68.27 dollars) per megawatt at 1102 GMT. This is a 17% decrease from the price paid on Friday for Monday's delivery.
LSEG data revealed that the equivalent German contract was not traded. LSEG data shows that German day-ahead prices have been missing in recent sessions.
LSEG data showed that the German wind output was expected to 'rise' by 5 gigawatts to 18.1 GW on Monday, while French wind?generation would rise by 3.6 GW from 10.7 GW.
LSEG data shows that power consumption in Germany will rise by 1.2 GW, to 65.9 GW, on Monday. Meanwhile, French demand is predicted to drop by 1.4 GW, to 58.9 GW, as temperatures increase by 2.8 degrees Celsius, to 10.5.
In a recent note, Engie's EnergyScan analysts said that weather models have changed noticeably since the weekend. They now predict a warmer, windier week in Western Europe.
The EnergyScan analysts stated that wind forecasts had also been revised upward. After a quiet week, they expect a more robust outlook for Germany and Britain by midweek.
The French nuclear power availability rose to 87%, which is flat.
The German baseload price for the year ahead was up by 0.9% at 82.80 Euros/MWh. In France, however, it was not traded with a bid price of 48.40 Euros/MWh.
The benchmark contract on the European carbon markets?rose by 1%, to 79.55 Euros per metric ton.
Sebastien lecornu, the French prime minister, outlined his agenda at the weekend. He emphasized energy and called for an enormous boost in electrification.
(source: Reuters)
