Low wind supply lifts Monday spot prices

The spot price for Monday is expected to rise due to a sharp decline in the regional wind energy supply.

LSEG data shows that the German Monday baseload electricity contracts reached 145 euros per Megawatt-hour at 0912 GMT Friday, a 51.8% increase from Thursday's closing price.

LSEG data revealed that the equivalent French contract was not traded.

Riccardo Paraviero, LSEG analyst, says that the German residual load will increase by 17.3 GW, which is slightly higher than the rest of Europe, mainly because wind power has decreased.

LSEG data shows that German wind power production is expected to drop by 16.9 gigawatts on Monday to 4.4 GW. Meanwhile, French wind power is projected to increase 3.6 gigawatts, to 6.9 GW.

The German solar energy supply is expected to drop by 590 Megawatts, to 6.3 GW.

On Monday, Germany's power consumption is expected to decline by 640 MW (to 56 GW), while France is predicted to see a drop of 560 MW (to 45 GW).

The analyst from Engie's Energy Scan stated that "next week temperatures will be revised higher and closer to normal, though they may fall slowly below the norm at the end the week. This will increase the heating degree days."

The French nuclear capacity has fallen by two percentage points, to 67%.

The German power contract for the year ahead fell 0.5%, to 87.55 Euros/MWh. Meanwhile, the French baseload contract 2026 was not traded with a price of 58.75 Euros/MWh.

The benchmark contract on the European carbon markets rose by 0.4%, to 79.53 Euros per metric ton.

France is one of the most ardent supporters of Ukraine's fight against Russia. Many have increased their imports, which are pumping billions of Euros into the wartime economy of Moscow. (Reporting and editing by Tasim Zhi; Forrest Crellin)

(source: Reuters)