Increased wind production will weigh on Monday's spot prices
The strong increase in regional wind energy supply will likely bring down spot prices on Monday. The German and French baseload power contracts for Monday had not begun trading at 0824 GMT Friday after closing respectively at 108 and 90 euro per megawatt-hour on Thursday, LSEG's data showed.
LSEG analyst Xiulan he said that the German residual load was expected to decrease by 16,2 gigawatts on Monday. The rest of the region is also experiencing losses due to the increase in wind energy supply.
LSEG data shows that German wind power production is expected to increase by 16.9 GW Monday to 32.6 GW. French wind power is also projected to grow 8 GW from 12.6 GW.
German solar energy supply is expected to drop by 2.3 GW - 3.7 GW.
On Monday, power consumption in Germany will fall by 1.5 GW and reach 55.4 GW. In France, demand is expected to decrease by 2.5 GW and reach 45.1 GW.
The French nuclear capacity has increased by three percentage points, to 72%.
The German power contract for 2026 fell by 0.2%, to 87.40 euro/MWh. Meanwhile, the French baseload contract dropped 0.2% to 56.80 euro/MWh.
The benchmark contract on the European carbon markets fell by 1.6%, to 78.28 Euros per metric ton.
The EEX bourse announced that it will extend the maturities of its German Power Base Month futures and options contracts to 24 months on December 8 to provide extended trading opportunities.
It said in a press release announcing this date that the EEX has the most liquid futures power market segment, with the German contribution of close to 5,000 tWh traded thus far this year. (Reporting and editing by Toby Chopra; Vera Eckert and Alban Kacher)
(source: Reuters)
