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CWE Day-ahead Power Increase on Rising Demand, Low Renewables

POWER
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The majority CWE day-ahead baseload contracts increased on the day amid higher demand on Tuesday as the public holiday in most EU countries will come to an end. Combined wind and solar in France and Germany are expected to be low tomorrow, with the French-German peak load discount widening on the day.

  • The French day-ahead spot closed at €32.09/MWh from €19.50/MWh in the previous day. The peak day ahead closed at €24.40/MWh from €12.04/MWh on 20 May.
  • The German day-ahead spot settled at €79.81/MWh, up from €64.98/MWh in the previous day. The peak day ahead closed at €73.51/MWh from €32.51/MWh on 20 May.
  • This placed the French peak load day ahead at a €49.11/MWh discount from €20.47/MWh.
  • German and French power demand is forecast to average around 51.9GW and 40.8GW, respectively, on Tuesday, up from 43.2GW and 36.5GW Today, data from Entso-E show.
  • Combined solar and wind Generation in France and Germany is expected at a 15% load factor, or 5.95GW and 21%, or 25.47GW, respectively on Tuesday.
  • Combined wind and solar in Germany will fall between 16-20% load factors, or 19.6-24.3GW over 22-23 May.
  • German solar output on Tuesday is seen peaking at 31.26GW at 1pm, compared with a high of 39.93GW at 1pm on Monday, according to Bloomberg model.
  • But in France combined solar and wind will increase between load factors of 16-23% over 22-23 May.
  • France’s nuclear reactors were operating at 70% of full capacity on May 20 at 07:57 CET, down from 71% on May 17, according to Bloomberg.
  • Further out, Northwest Europe has a daily average of 1 cooling degree days for the 6-10 day forecast, 1 above the 10-year norm.

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The majority CWE day-ahead baseload contracts increased on the day amid higher demand on Tuesday as the public holiday in most EU countries will come to an end. Combined wind and solar in France and Germany are expected to be low tomorrow, with the French-German peak load discount widening on the day.

  • The French day-ahead spot closed at €32.09/MWh from €19.50/MWh in the previous day. The peak day ahead closed at €24.40/MWh from €12.04/MWh on 20 May.
  • The German day-ahead spot settled at €79.81/MWh, up from €64.98/MWh in the previous day. The peak day ahead closed at €73.51/MWh from €32.51/MWh on 20 May.
  • This placed the French peak load day ahead at a €49.11/MWh discount from €20.47/MWh.
  • German and French power demand is forecast to average around 51.9GW and 40.8GW, respectively, on Tuesday, up from 43.2GW and 36.5GW Today, data from Entso-E show.
  • Combined solar and wind Generation in France and Germany is expected at a 15% load factor, or 5.95GW and 21%, or 25.47GW, respectively on Tuesday.
  • Combined wind and solar in Germany will fall between 16-20% load factors, or 19.6-24.3GW over 22-23 May.
  • German solar output on Tuesday is seen peaking at 31.26GW at 1pm, compared with a high of 39.93GW at 1pm on Monday, according to Bloomberg model.
  • But in France combined solar and wind will increase between load factors of 16-23% over 22-23 May.
  • France’s nuclear reactors were operating at 70% of full capacity on May 20 at 07:57 CET, down from 71% on May 17, according to Bloomberg.
  • Further out, Northwest Europe has a daily average of 1 cooling degree days for the 6-10 day forecast, 1 above the 10-year norm.