German prompt prices will rise on Monday due to a weaker renewable supply
On Monday, German power prices will rise due to a decrease in renewable electricity production in the country. This is expected to offset a slight increase in demand.
LSEG data revealed that the trading of German and 'French baseload day-ahead contracts for Monday hadn't started by 0901 GMT.
Marcus Eriksson, LSEG analyst, says that residual load in Germany - which is the amount of energy demand that is left after renewables are subtracted – is expected to increase by 20 gigawatts on Monday to 35.7?GW. This is due to a lower renewable supply compared with?Friday.
LSEG data shows that the German wind energy generation will?fall by 18,6 gigawatts on Monday to 29,6 GW while French output is expected to 'fall to 15 GW from Friday's 20 GW.
The solar supply in Germany is expected to fall by 1.1 GW per day. The French nuclear power supply was 4 percentage points lower over night at 88% installed capacity, as Unit 3 of the Flamanville Plant experienced an unplanned outage.
On Friday morning, the Unit?1 reactor of the plant also experienced an unplanned shutdown. The state-owned utility EDF has not disclosed the cause of the unplanned outage.
On Monday, the power demand in Germany is expected to rise by 210 MW to 66.4 GW.
On Monday, France's consumption fell by 3.7 GW, to?65.7 GW, while the average temperature climbed 1.3 degrees Celsius, to 8.1 C, after dropping over the weekend.
The German and French baseload?year-ahead had not yet started trading, despite closing on Thursday at 82.75 euros/MWh and 48.50 euros/MWh.
The benchmark contract on the European carbon market was largely unchanged, at 88.17 Euros per metric ton.
(source: Reuters)
