Prices are down due to milder weather
On Wednesday morning, the benchmark European baseload electricity prices were mostly lower amid milder weather conditions.
LSEG data show that the German baseload price for the year ahead was down 1.6 euros to 81.70 euros/MWh. The French equivalent fell by 0.88 euros to 48.32 euro/MWh at 0939 GMT.
The German baseload electricity for the next day fell by 10.05 euros to 102.95 Euros/MWh.
The EU carbon price and gas have also fallen amid milder forecasts.
Next week is expected to be milder, with temperatures lower than average. Wind power production will also increase tomorrow.
LSEG data revealed that German wind energy generation is expected to be 25 gigawatts per hour (GWh/h), throughout the day, and will rise above this at night.
The spread between German front-year and French prices is near a low for the year, but the divergence in the carbon-to gas spread could cause it to rebound and even widen, said analysts from Engie's EnergyScan.
The French baseload power contract for the day ahead rose 2.25 euros, to 14.25 euros/MWh.
LSEG data indicated that the availability of French nuclear capacity is expected to decline by 1.7 gigawatts.
The benchmark contract on the 'European carbon market was down 1.01 euros at 77.85 euro per metric ton.
A document internal to the European Union, seen by on Tuesday, revealed that it is considering overhauling its system of free CO2 permits given to?industries as part of its revamping of its carbon markets.
(source: Reuters)
