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Day-Ahead – CWE Prices Move Into Negative Territory for Tuesday Delivery

POWER

The French day-ahead base load on the Epex Spot almost decreased to €45.74/MWh, down from €54.91/MWh the previous session, while French prices moved into negative territory for two hours on Tuesday amid higher renewables output.

  • The French peak-load spot declined to €32.14/MWh, down from €43.58/MWh the previous session. Prices are falling into negative territory between 01:00-03:00PM CET on Tuesday.
  • Wind output in France is forecast to edge higher on the day to reach up to 4GW on Tuesday, up from a high of 3.69GW on Monday. Solar PV output is forecast to be broadly stable on the reach to rise to 12.18GW on Tuesday, compared with 11.94GW on Monday according to SpotRenewables.
  • French power demand is forecast rise to a peak of 49.998GW on Monday and of 49.97 on Tuesday according to Entso-E.
  • Mean temperatures in Paris are forecast to remain above seasonal normal levels until 29 June. Maximum temperatures in Paris are forecast to rise on the day to reach around 28C on Tuesday.
  • French nuclear availability rose to 70% as of Monday morning, RTE data showed, cited by Bloomberg.
  • In Germany, wind output is forecast to rise on the day to reach 9.62GW on Tuesday, up from a maximum of 5.67GW on Monday. Solar PV output in Germany is also forecast to increase on the day to reach 43.4GW on Tuesday, up from a high of 40.84GW on Monday according to SpotRenewables.
  • Power demand in Germany is forecast to peak at 62.87GW on Monday and further rise to maximum of 63.32GW on Tuesday.
  • The German day-ahead base load on the Epex Spot declined to €75.60/MWh, down from €92.09/MWh in the previous session.
  • The German peak-load spot index also decreased to €49.86/MWh, down from €67.87/MWh the previous session. German prices are falling into negative territory between 01:00-03:00PM CET on Tuesday.
  • Day-ahead prices in the Netherland and Belgium moved deeper into negative territory on Tuesday with prices falling to as low as -20€/MWh during 01:00-02:00PM CET in both countries, weighed on by renewables generation.
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