Mixed market trends amid tighter winds and slowing demand
The European power market was mixed on Wednesday, ahead of Ascension Day. This was partly due to the expectation of a sharply declining wind power generation that would be partially offset by an increase in solar power.
The German power price was lower, and the French indicated were higher for today.
LSEG Research also found that the availability of coal was a factor that would affect markets in the future.
By 0825 GMT the German baseload for day-ahead was down 13.8% to 58.0 euros ($65.64 per megawatt hour) while no delivery had been traded or indicated on Friday.
The French baseload range for the next day was between 31.5 and 35 euros, after settling at 29 euros on Monday. Friday did not attract any bids or asks.
LSEG data revealed that Germany's wind production would fall 11.6 gigawatts per day to 14.6 GW. It will then rise to 22.4 GW by Friday, but still be below current levels.
In France, the pattern was also similar. The day-ahead volume of wind is expected to be down by 6.4 GW and 3.2 GW. It will further fall to 1.3 GW Friday.
The French nuclear capacity remained at 60%.
The demand for German electricity is down 9.8 GW to 43.5 GW during the holiday. It then rises to 49.4 GW at the bridging friday.
The power consumption in France is expected to fall by 3.8 GW per day, from 36.0 GW today to 37.3 GW tomorrow.
The German baseload for the year ahead was almost unchanged at 89.3 Euros/MWh.
The French year-ahead contract had a bid price of 61.3 euros, after closing at 61.4 euros.
The benchmark contract for 2025 on the European carbon market fell by 0.2%, to 71.6 Euros per metric ton.
The German energy regulator published an official report on the installed generation capacity of the German energy operators. In May, the country's energy providers had 252.1 GW at their disposal. Of this amount, 177.8 are renewable sources.
(source: Reuters)
