The region has seen a decline in renewable output
German and French spot rates were not traded on Friday morning, but the falling supply of renewables is expected to exceed the decline in demand for Monday's prices.
LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1111 GMT.
LSEG analyst Florine Engl stated that the residual load will increase on Monday in all regions except Austria. The nuclear availability is also expected to decrease in France.
LSEG data indicated that German wind power production was expected to drop by 5.9 gigawatts to 8.2 GW Monday. French wind output is also expected to decrease from 3.5 GW down to 3.1 GW.
LSEG data revealed that the German solar energy supply is expected to drop by 370 megawatts to 14,3 GW.
The data revealed that power consumption in Germany will fall by 770 MW on Monday to 51.8 GW. In France, demand is expected to drop 2 GW to 40.4 GW.
The French nuclear capacity remained unchanged at 64%.
The German power contract for 2025 has increased by 0.3% to 60 euros/MWh, while the French baseload contract is up 1.2% at 90.50 euros/MWh.
Analysts at Mind Energy said that the German futures market was dominated by gas, and much depends on what we hear from the Ukraine-Russian peace talks taking place in Turkey.
The benchmark contract on the European carbon markets rose by 1.5%, to 74.54 euro per metric ton. (Reporting and editing by Varun H. K.; Forrest Crellin)
(source: Reuters)
