Spot prices increase on lower wind output
The European spot electricity prices rose on Tuesday as the wind generation output is expected to decline in France and Germany.
LSEG data shows that the German baseload day-ahead power price at 0943 GMT was 102.50 Euros ($119.09 per megawatt-hour), up 9.7% on Friday's closing price for Monday delivery.
Data showed that the equivalent French price for Monday delivery was 82.25 Euros/MWh. This is a 5.4% increase from the Friday price.
LSEG data indicated that on the supply side German wind power output was expected to decline by 1.3 gigawatts, to 23.1 GW, while French wind production is forecast to fall 2.1 GW, to 8.8 GW.
LSEG data shows that the German power demand is expected to increase by 1.5 GW, to 64 GW, on Tuesday. In France however, it is predicted to drop by 850 Megawatts to 62.9 GW. This is due to an expected rise in temperatures of 2.3 degrees Celsius in France to 8.3 C.
Analysts at Engie EnergyScan say temperatures should be around normal for the rest of this week but will likely rise 2 to 3 degrees next week.
The French nuclear energy availability increased by two percentage points, to 86%.
Nuclear operator EDF announced online that a 24-hour strike in France by power plant employees is expected to begin Monday evening and continue through Tuesday.
The German baseload contract for the year ahead was down by 0.9% to 86.50 Euros/MWh.
The French position for the year ahead fell by 1.3%, to 48.70 Euros/MWh.
The benchmark contract for the European carbon market 2025 fell 0.2%, to 83.12 euro per metric ton.
(source: Reuters)
