End of Day Power Summary: CWE Curves Fall

Power futures in CWE have fallen sharply today amid losses in the wider energy markets and forecasts for cooler weather in the second half of this month. German solar output is forecast to surge on Tuesday, reaching load factors up to 51%.

• France Base Power SEP 24 down 5.1% at 58.8 EUR/MWh
• Germany Base Power SEP 24 down 3.2% at 84.18 EUR/MWh
• EUA DEC 24 down 2.5% at 68.85 EUR/MT
• TTF Gas SEP 24 down 3% at 35.55 EUR/MWh
• Rotterdam Coal SEP 24 down 2.2% at 119.55 USD/MT
• European carbon and allowances have retreated today, erasing some of last week’s gains, driven by weak wider market risk appetite and easing warm temperatures forecast despite supply risks from Middle East tensions.
• The latest EU ETS CAP3 EU auction cleared at €67.02/ton CO2e, down from €68.07/ton CO2e in the previous auction, according to EEX.
• Norwegian pipeline supplies to Europe have risen to the highest since January at 351.7mcm/d today. An unplanned Asgard outage of 5.7mcm/d today due to process problems has reduced flows for today from an earlier estimation of 356mcm/d.
• Monthly volumes on EEX Group’s global power markets surged by 35% on the year to 814.6TWh, driven by a 61% growth in European power market derivates.
• French hydropower reserves last week – week 31 – declined to 86.6% of capacity, or 3.109TWh, down by 0.45 percentage points on the week, RTE data showed.
• The planned maintenance at 910MW Gravelines 4 has been extended by four days until 17 August.
• EdF extended potential nuclear production curbs at the 2.62GW Golfech reactors by three days until 14 August due to high temperatures forecast on the Garonne river, with one unit in must run amid grid constraints.
• The French Q2 2025 and Q3 2025 power contracts are likely undervalued currently, even if RTE decided to reintroduce export cuts on France’s eastern borders next year, ICIS said.
• Spain’s Iberdrola has received the construction permits for 406MW of solar PV and onshore wind farm projects in several Spanish regions, the firm said.
• Poland’s PGE Group is advancing with the 900MW Baltica offshore wind farm and has contracted Energoprojekt-Katowice to prepare a conceptual design for the wind farm.