The power demand forecasts are lower than expected on Mondays

German and French spot rates were not traded on Friday morning, but the demand for wind power is expected to be reduced due to the dual holidays.

LSEG data shows that the German and French Monday basisload power contracts had not been traded by 847 GMT.

LSEG analyst Florine Engl stated that residual load in Germany should decrease on Monday compared to last Friday. However, it will increase on Tuesday.

LSEG data indicated that German wind output would fall by 12.2 GW Monday to 19.7 GW. French wind production was also expected to drop by 5.5 GW down to 1.9 GW.

LSEG data revealed that the German solar energy supply is expected to increase by 1.6 GW and reach 15.9 GW.

The data shows that power consumption in Germany will plummet by 12.7 GW, to 40.2GW, on Monday, as the country observes Whit Monday. In France, demand is expected to drop 5.4 GW, to 36.8GW, as workers have the Solidarity Day Holiday.

The French nuclear capacity has increased by two percentage points, to 69%.

The German power contract for the year ahead rose 0.7%, to 88.80 Euros per Megawatt Hour (MWh), whereas on Thursday the French baseload 2025 contract was not traded with a range of bids/asks between 62.65 euros/MWh and 64.70.

The benchmark contract on the European carbon markets rose by 0.4%, to 73.02 Euros per metric ton.

Legislators and business leaders warned on Friday that Britain's first Industrial Strategy in eight years would be undermined without measures to lower the sky-high costs of energy faced by businesses. (Reporting and editing by Elaine Hardcastle; Forrest Crellin)

(source: Reuters)