On Monday, France and Germany saw a decline in demand

German and French spot price had not traded on Friday early, while demand in both countries is expected to drop on Monday and renewable output shows divergent trends throughout the region.

LSEG data shows that the German and French Monday basis power contracts had not been traded by 838 GMT.

LSEG data indicated that German wind power production was expected to drop by 1.2 gigawatts to 15.9 GW Monday, while French supply was projected to increase by 2.2 GW up to 5.2 GW.

LSEG data indicated that residual load in Germany is expected to rise on Monday. This contrasts with a 2.8 GW decline in France.

LSEG data revealed that the French solar energy supply is expected to drop by 850 megawatts to 4.1 GW.

LSEG data and Ember showed that France's energy producers had increased clean energy production to six-year levels so far this season and produced about 95% all of the country's electricity from clean sources.

The data shows that power consumption in Germany will fall by 720 MW on Monday to 50.7 GW. In France, demand is expected to drop 1.5 GW to 41.18 GW.

The French nuclear capacity decreased by 5 points, to 64% total capacity, as two reactors were taken offline for planned maintenance.

The German 2025 baseload contract has not yet started trading, but the German year-ahead electricity contract fell 0.4% on Thursday to 89.40 Euro/MWh.

The benchmark contract on the European carbon markets increased by 0.3%, to 72.36 Euros per metric ton.

Mind Energy analysts say that the market will remain rangebound for some time to come, after it stabilized following higher volatility earlier in the year. (Reporting and editing by Clarence Fernandez; Alban Kacher)

(source: Reuters)