Rising demand lifts French spot prices

On Monday, the French baseload power price increased from the previous one week due to an expected increase in demand that would offset a higher renewable supply for Tuesday.

LSEG data shows that the French baseload electricity price for Tuesday at 0815 GMT was 72 euros ($72.43 per megawatt-hour (MWh), 50% more than it was last Monday.

Data showed that the equivalent German contract had not been traded.

LSEG data shows that both contracts were not traded Friday.

In France, the residual load (the amount of energy required by conventional power plants to meet demand after taking into account renewables) is expected to grow by 4.1 gigawatt-hours per hour each day and average 32.5 GWh.

LSEG data indicated that the German wind output is expected to increase by 4.5 gigawatts to 9.1 GW while French output will gain 790 MW, to 6.2 GW.

Riccardo Paraviero, LSEG analyst, says that in Germany, it is expected that the rise in wind energy supplies will offset the increase of consumption.

On Tuesday, power consumption in Germany will rise by 1.7GW to 52.2GW while in France it is expected to increase by 5.2GW to 43.8GW.

The French nuclear capacity has fallen by four percentage points, to 78%.

EDF Belleville's second unit was disconnected from the electricity grid on Sunday due to a high-voltage storm warning, according to the operator.

The German baseload power for the year ahead increased by 1%, to 88.0 Euros/MWh. In comparison, the French equivalent fell 0.4% to 65.25 Euros/MWh.

The benchmark contract on the European carbon markets rose 0.8%, to 71.12 euro per metric ton. $1 = 0.8559 Euros (Reporting and Editing by Louise Heavens; Reporting by Alban Kach)

(source: Reuters)