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End of Day Power Summary: French-German M1 Discount at Three-Day Low

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The French-German M1 2024 power base-load discount fell to its lowest since 20 May as the French and German markets diverged in Thursday’s session, with France up on the day amid French nuclear maintenance over June. France was also supported due to higher TTF prices caused by tighter LNG supplies and Russian gas supplies to Austria being at risk.

  • German M1 24 down 0.24% at €76.40/MWh.
  • France M1 24 up 1.11% at €43.75/MWh.
  • TTF Gas June 24 up 1.56% at €40.55/MWh.
  • EU ETS Dec 24 down 0.05% at €76.17/t CO2e.
  • Rotterdam Coal June 24 up 0.4% at $113.30/t
  • The French M1 discount is at €32.65/MWh, slightly down from €33.31/MWh on 22 May.
  • Former regulator head Walter Boltz said the Russian gas deliveries to Austria “will stop at some point this summer, maybe in two or three months,” according to Montel. The halt could impact supplies up to 6bcm/year, Montel added.
  • France’s 910MW Blayais 3 nuclear power plant will run at just 100MW of capacity over 7-8 June.
  • The 1.5GW Chooz 2 will also be off line until the middle of June, with the unit return on 12 June.
  • The 890MW Dampierre 1 nuclear unit will be disconnected until 27 June from maintenance that began on 18 May.
  • France’s nuclear reactors were operating at 71% of full capacity on Thursday, down from 72% on Wednesday, according to Bloomberg calculations using data from grid operator RTE.
  • The latest CBC auctions for delivery in June on the Belgium-German direction closed at a lower price on the month, with prices in the other direction climbing, data from JAO show
  • The latest CBC auction for delivery in June on the Belgium-France border widened compared to the previous month, data from JAO show.
  • The latest CB auction for delivery in June on JAO in the Belgium-Netherland direction increased on the year, data from JAO show.
  • The latest June CBC auction in the Dutch-German direction fell compared to the previous auction, while prices in the German-Dutch direction increased, data from JAO show.
  • The latest CBC auction for delivery in June in the Spanish-French direction fell to a yearly low, while prices in the other direction reached a yearly high, according to JAO.
  • Italian hydro stocks over 13-19 May (week 20) increased for the third consecutive week, with stocks having the highest week-on-week gain this year.
  • Swedish firm Statkraft has concluded its acquisition of Spanish developer Elecnor, with the company acquiring 1.5GW of wind and solar projects in Spain and Brazil, Statkraft said today.

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The French-German M1 2024 power base-load discount fell to its lowest since 20 May as the French and German markets diverged in Thursday’s session, with France up on the day amid French nuclear maintenance over June. France was also supported due to higher TTF prices caused by tighter LNG supplies and Russian gas supplies to Austria being at risk.

  • German M1 24 down 0.24% at €76.40/MWh.
  • France M1 24 up 1.11% at €43.75/MWh.
  • TTF Gas June 24 up 1.56% at €40.55/MWh.
  • EU ETS Dec 24 down 0.05% at €76.17/t CO2e.
  • Rotterdam Coal June 24 up 0.4% at $113.30/t
  • The French M1 discount is at €32.65/MWh, slightly down from €33.31/MWh on 22 May.
  • Former regulator head Walter Boltz said the Russian gas deliveries to Austria “will stop at some point this summer, maybe in two or three months,” according to Montel. The halt could impact supplies up to 6bcm/year, Montel added.
  • France’s 910MW Blayais 3 nuclear power plant will run at just 100MW of capacity over 7-8 June.
  • The 1.5GW Chooz 2 will also be off line until the middle of June, with the unit return on 12 June.
  • The 890MW Dampierre 1 nuclear unit will be disconnected until 27 June from maintenance that began on 18 May.
  • France’s nuclear reactors were operating at 71% of full capacity on Thursday, down from 72% on Wednesday, according to Bloomberg calculations using data from grid operator RTE.
  • The latest CBC auctions for delivery in June on the Belgium-German direction closed at a lower price on the month, with prices in the other direction climbing, data from JAO show
  • The latest CBC auction for delivery in June on the Belgium-France border widened compared to the previous month, data from JAO show.
  • The latest CB auction for delivery in June on JAO in the Belgium-Netherland direction increased on the year, data from JAO show.
  • The latest June CBC auction in the Dutch-German direction fell compared to the previous auction, while prices in the German-Dutch direction increased, data from JAO show.
  • The latest CBC auction for delivery in June in the Spanish-French direction fell to a yearly low, while prices in the other direction reached a yearly high, according to JAO.
  • Italian hydro stocks over 13-19 May (week 20) increased for the third consecutive week, with stocks having the highest week-on-week gain this year.
  • Swedish firm Statkraft has concluded its acquisition of Spanish developer Elecnor, with the company acquiring 1.5GW of wind and solar projects in Spain and Brazil, Statkraft said today.