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End of Day Power Summary: Avg France-German Sept Discount Down 8% On-Week

POWER

The France-Germany September power base-load discount is on track to close 8% down on the week as the French contract has risen by 9% week-on-week amid several nuclear curtailments due to high river temperatures, while Germany has only moved up by 3% as the EU gas market assess supply risks from Ukraine’s ongoing incursion into Kurs, with EU ETS prices also up on the week.

  • France Base Power SEP 24 up 1.1% at 69.55 EUR/MWh
  • Germany Base Power SEP 24 up 0.2% at 92.5 EUR/MWh
  • EUA DEC 24 up 0.5% at 72.48 EUR/MT
  • TTF Gas SEP 24 up 0.2% at 39.68 EUR/MWh
  • Rotterdam Coal SEP 24 down 0% at 123 USD/MT
  • The equivalent TTF contract has had a choppy session, with gains easing in the mid-day session to then flip back into positive territory towards the end of the day as market participants continue to weigh supply risks from Ukraine and Middle East conflicts, while fundamentals have been broadly unchanged.
  • EU ETS Dec24 is tracking gains in the wider energy complex, with the latest latest weekly German EUA CAP3 auction cleared at €71/ton CO2e, up from €70.46/ton CO2e in the previous auction on 9 August according to EEX – possibly adding some support.
  • Moldova has started a 165MW renewable tender, with the deadline for bids set for 31 March 2025, the energy minister said, cited by Bloomberg.
  • Dutch total grid costs are set to continue to rise by €8.8bn to just under €12bn by 20245 according to a study by Aurora Energy Research, commissioned by Tata Steel, Shell, BP and Sabic and others, cited by Montel.
  • The 1.91GW Paks nuclear power plant has curtailed its capacity by 240MW due to high Danube River temperatures, according to its operator, cited XM.
  • The Netherlands has recorded around 347Hrs of negative prices over 1 Janaury-14 August, up from 316Hrs across 2023, with this number expected to rise between 450-550Hrs by then of this year, Dutch Strategy, said, cited by PV Magazine.
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