The French higher ups are an outlier in a windy environment.
The German wind energy supply was a negative factor on the European wholesale electricity prices on Wednesday, but France's day-ahead price position was boosted by a decrease in solar production.
In a day-ahead German forecast, LSEG analyst Xiulan He said that the wind supply would increase steadily up until hour 14. After which it will stabilise and then show a slight decrease. He also predicted that Germany's exports were expected between hours 10-17.
At 0755 GMT, the German baseload price was down by 27.3% to 103.8 euros ($120.80 per megawatt-hour (MWh). The equivalent French position was 2.0% higher at 86.3 euros/MWh.
Stable temperatures, a generally stable demand and a higher availability of nuclear power in France were all factors that contributed to a price decline.
Week-ahead contracts were affected by the prospect of French Autumn holidays in the next fortnight.
On Thursday, the German wind energy output is expected to increase to 17.1 gigawatts from 6.2 GW, which was Wednesday's level.
The French nuclear capacity increased by two percentage points overnight to 68%.
The power demand in Germany and France was essentially unchanged over the two-day period. They stood at 47.6 GW and 57.8GW respectively.
The German baseload contract for the year ahead was not traded after it closed at 86.3 Euros/MWh, and neither was France's. It had closed at 56.5 Euros.
The benchmark contract on the European carbon markets increased by 0.5%, to 77.27 Euros per metric ton.
Draft conclusions for a summit of the EU next week revealed that European Union leaders will agree to set a new target for climate change for 2040. However, they also demand more support for industries such as steel and automaking in order to achieve it.
In a report on energy, Swiss utility Axpo said that the feed-in rate of liquefied gas (LNG), into Europe's pipe grid, was increasing, while coal stocks remained stable and the Rhine river for the shipping of coal cargoes remained unaffected.
(source: Reuters)