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End of Day Power Summary: Falling Energy Complex Weighs on CWE Power

POWER
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The CWE front-month power baseload contracts have remained in negative territory towards the end of Friday’s session, with the French week ahead up on the day amid hydropower plant maintenance and low wind forecast.

  • Germany Base Pwr JUL 24 down 0.7% at 76.15 EUR/MWh
  • France Base Pwr JUL 24 down 0.9% at 40.7 EUR/MWh
  • France Base Pwr Week-Ahead up 2.2% at 27 EUR/MWh
  • TTF Gas JUL 24 down 1% at 35.35 EUR/MWh
  • Rotterdam Coal JUL 24 down 1.6% at 111.75 USD/MT
  • EUA DEC 24 down 2.9% at 68.66 EUR/MT
  • French wind over 17-21 June is anticipated between 2.59-4.49GW, with forecasts over the period being revised lower by around 1.6GW.
  • French utility EdF will disconnect its 910MW Montezic 2 hydro power plant over 17-21 June in a planned maintenance, Remit data show published today.
  • EdF is also anticipated to disconnect about 3GW of nuclear capacity over 15- 16 June amid high wind output and low demand anticipated over the period, which pushed day-ahead power prices into negative territory.
  • The French leftist New Popular Front (NFP) alliance has outlined a broad range of policy objectives should it be able to form a gov't following the upcoming legislative elections. These include the “freezing of the prices of basic necessities”, particularly in food, energy and fuel.
  • Nuclear Alliance of the EU have published a manifesto, citing that nuclear capacity could climb up to 150GW by 2050, compared to about 100MW now, and has also called for policymakers to implement several energy policies, the document said, cited by WNN.
  • Croatia's energy market operator HROTE has launched its 607MW renewable tender, with the deadline to submit bids set on 27 June, according to the operator.
  • German-based firm RWE together with company Masdar have submitted a development consent order to the UK for their 3GW Dogger Bank South offshore wind farm off east England, according to the firm, cited by Renews.biz.
  • UK-based firm Octopus Energy has outlined a set of suggestions for changing the UK’s grid connection process as the capacity that is currently waiting to be connected has climbed to around 700GW from just over 200GW in April 2023, according to its “End the Gridlock” report.
  • Swedish government has not approved the 700MW Hansa PowerBridge line between Sweden-Germany due to issues with the German power market providing correct price signals to the market actors, the Swedish government said today.
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The CWE front-month power baseload contracts have remained in negative territory towards the end of Friday’s session, with the French week ahead up on the day amid hydropower plant maintenance and low wind forecast.

  • Germany Base Pwr JUL 24 down 0.7% at 76.15 EUR/MWh
  • France Base Pwr JUL 24 down 0.9% at 40.7 EUR/MWh
  • France Base Pwr Week-Ahead up 2.2% at 27 EUR/MWh
  • TTF Gas JUL 24 down 1% at 35.35 EUR/MWh
  • Rotterdam Coal JUL 24 down 1.6% at 111.75 USD/MT
  • EUA DEC 24 down 2.9% at 68.66 EUR/MT
  • French wind over 17-21 June is anticipated between 2.59-4.49GW, with forecasts over the period being revised lower by around 1.6GW.
  • French utility EdF will disconnect its 910MW Montezic 2 hydro power plant over 17-21 June in a planned maintenance, Remit data show published today.
  • EdF is also anticipated to disconnect about 3GW of nuclear capacity over 15- 16 June amid high wind output and low demand anticipated over the period, which pushed day-ahead power prices into negative territory.
  • The French leftist New Popular Front (NFP) alliance has outlined a broad range of policy objectives should it be able to form a gov't following the upcoming legislative elections. These include the “freezing of the prices of basic necessities”, particularly in food, energy and fuel.
  • Nuclear Alliance of the EU have published a manifesto, citing that nuclear capacity could climb up to 150GW by 2050, compared to about 100MW now, and has also called for policymakers to implement several energy policies, the document said, cited by WNN.
  • Croatia's energy market operator HROTE has launched its 607MW renewable tender, with the deadline to submit bids set on 27 June, according to the operator.
  • German-based firm RWE together with company Masdar have submitted a development consent order to the UK for their 3GW Dogger Bank South offshore wind farm off east England, according to the firm, cited by Renews.biz.
  • UK-based firm Octopus Energy has outlined a set of suggestions for changing the UK’s grid connection process as the capacity that is currently waiting to be connected has climbed to around 700GW from just over 200GW in April 2023, according to its “End the Gridlock” report.
  • Swedish government has not approved the 700MW Hansa PowerBridge line between Sweden-Germany due to issues with the German power market providing correct price signals to the market actors, the Swedish government said today.