End of Day Power Summary: France September Leads Gains

The French September power base-load contract has risen the sharpest in CWE in Thursday's session as heat-related nuclear curtailments have been extended adding continued support, while price increases in gas and EU ETS also add upward pressure to both the French and German equivalents.

• France Base Power SEP 24 up 5.7% at 68.95 EUR/MWh
• Germany Base Power SEP 24 up 1.3% at 91.95 EUR/MWh
• EUA DEC 24 up 0.1% at 71.94 EUR/MT
• TTF Gas SEP 24 up 1.5% at 39.545 EUR/MWh
• Rotterdam Coal SEP 24 up 0.9% at 123.1 USD/MT
• The equivalent TTF contract has given back some gains in the early afternoon session as Ukrainian flows are holding steady, with concerns remaining about supply.
• EU ETS Dec24 is tracking gains in the wider energy complex, with EU ETS CAP3 EU auction cleared at €69.85/ton CO2e, down from €70.82/ton CO2e in the previous auction according to EEX – possibly keeping upward movement limited.
• Following the conclusion of the Olympic Games, France's partisan discussions on forming a new gov't are set to resume in earnest the week beginning 19 August- to make any concessions towards forming a gov't has resulted in paralysis that shows little sign of ending.
• German TSO 50Hertz has requested planning approval for grid connections for the 945MW Gennaker offshore wind farm in the Baltic Sea, it said, cited by RenewablesNow.
• Switzerland has awarded offers totalling 82GWh in the second winter capacity reserve auction that concluded on 15 August according to the BFE.
• Maintenance at the 600MW Polish-Swedish SwePol power link has been extended by 6 days to 28 October, with works still scheduled to begin on 20 August, latest Remit data show.
• Danish Eurowind Energy has received permits for around 1GW of renewables over 2023-24 fiscal year across the EU, with the capacity divided between 19 PV farms and 10 wind parks, it said, cited by RenewablesNow.