End of Day Power Summary: FR-DE Day-Ahead Discount Wider Than July Close

The French-German average day-ahead discount over 1-5 July is wider than the July baseload contract discount closing price at €-19.51/MWh on 28 June amid losses weighed on by TTF prices and renewables. CWE August power contact is currently trading down- tracking losses in TTF- with downward revisions of temperature forecast adding additional weight.

• France Base Power AUG 24 down 1.3% at 44.14 EUR/MWh
• Germany Base Power AUG 24 down 1.3% at 74.81 EUR/MWh
• EUA DEC 24 up 0.3% at 70.27 EUR/MT
• TTF Gas AUG 24 down 0.5% at 33.075 EUR/MWh
• Rotterdam Coal AUG 24 down 2.2% at 107 USD/MT
• TTF has fallen back on the day and is headed for a net loss on the week. Robust storage levels, coupled with easing supply risks have added downside.
• The French-German day-ahead discount has stood at an average of €-24.34/MWh over 1-5 July, slightly wider than the closing discount price of the French-German July contract.
• The discount could widen next week amid lower renewable forecasts in Germany, with French nuclear generation stable.
• German wind is anticipated to be relatively low next week- ranging between 2-14% load factors over 8-12 July – this could support power prices on delivery and limit the further downside of power prices seen on 6 July.
• In France, nuclear availability was stable on the day at 69% of capacity as of Friday morning, RTE data showed, cited by Bloomberg.
• But EdF has cut nuclear generation for this weekend amid high renewables output and lower demand, remit data showed.
• Germany is planning to launch the first tender for hydrogen-ready gas power plants by the end of this year or early next year, the economy ministry said, cited by Reuters.
• Estonia’s Consumer Protection and Technical Regulatory Authority (CPTRA) has received no bids in its third offshore wind auction for the Saare 3 area, it said.
• EEX's scrapping of the Nasdaq Nordic power derivatives market deal has sparked market doubts potentially impacting liquidity, while others seek clarity on Nord Pool's regional plans, Uniper said, cited by Montel.
• Energy Aspects forecasts around 15mt of carbon will be captured and stored under the EU ETS scheme by 2030.
• Access to the power grid is the main reason for the bottleneck of renewable deployment, with rising grid connection queues leading to serious delays in the expansion of wind, European wind lobby group Wind Europe said.