Prices on Monday will rise due to higher demand and reduced wind energy generation

The European day-ahead electricity prices will likely rise on Monday due to a?increased consumption and a sharp decline in?wind energy generation.

LSEG data shows that the German and French 'Monday' baseload power contracts had not been traded by 8:27 GMT on Friday.

LSEG data showed that German wind power production is expected to fall by 35.9 gigawatts to 14.2 GW on Monday. Meanwhile, French wind power is expected to?fall by 4 GW and 3.4 GW.

Xiulan 'He, a LSEG analyst, said: "Monday’s outlook is bullish. This is due to the sharply reduced wind generation and the significantly higher demand across all CWE market,"

He added that temperatures are expected to fall between 3 and 6 degrees Celsius from Friday to lead to a higher level of consumption, especially in France.

LSEG data shows that power consumption in Germany will?increase by 5.1 GW and reach 59.2 GW while French demand will?jump 14.2 GW up to 79.8 GW.

The French nuclear energy availability has remained at 90% of the total capacity.

The new German and French baseload year-ahead contracts had not yet started trading, despite closing on Thursday at 83 euros ($97.39), and 50.65 euros/MWh, respectively.

The benchmark contract on the European carbon markets gained 1.7%, to 88.87 Euros per metric ton.

(source: Reuters)