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End of Day Power Summary: French Week-ahead Contracts Resists TTF, Emissions Fall

POWER
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The French week-ahead contracts as far back as the third week ahead have remained sharply up on the day – also supporting the July product – to shrug off slight falls in European gas and emissions. In contrast, the German July has tracked losses in the energy complex, with gas-fired output up 1% on the year in May.

  • France Base Pwr Week 2 up 7.43% at 30.50 EUR/MWh.
  • France Base Pwr Week 3 up 2.53% at 34 EUR/MWh.
  • France Base Pwr Week 4 up 6.44% at 38 EUR/MWh.
  • Germany Base Pwr JUL 24 down 0.9% at 75.01 EUR/MWh.
  • TTF Gas JUL 24 down 0.4% at 33.21 EUR/MWh.
  • Rotterdam Coal JUL 24 down 3.2% at 111.3 USD/MT.
  • EUA DEC 24 down 0.2% at 71.71 EUR/MT
  • French wind forecast over the 7-13 June point to generation between 1.59-3.36GW, with solar anticipated between 2.34-3.88GW over the same period, according to SpotRenewables.
  • But the average temperature in Paris has been revised lower by up to 1C over 7-9 June to between 13-14.3C – well below the 30-year norm of around 16C, Bloomberg model show. Temperatures are anticipated to be between 13.5-15.5C over 10-15 June.
  • German lignite generation fell by around 10% on the year in May, with hard coal output falling by 32% amid less favourable generation margins, while gas and solar moved up by 1% and 9%, respectively, data from Entso-E show
  • Germany is expected to present its delayed power plant strategy before the summer break, economic minister Robert Habeck said on Thursday.
  • Renewable firm SSE Renewables has started producing power at its 443MW Viking wind farm in Scotland, with full commissioning expected in the summer of 2024, the firm said, cited by Renews.biz.
  • The Crown Estate has completed the pre-qualification questionnaire (PQQ) stage of the Celtic Sea Floating Offshore Wind Leasing Round 5, with the results anticipated in early July, according to the company.
  • Reduced and negative power prices in Spain have lowered investor appetite, with the value of solar power projects falling by 50% since last year, according to Lucia Gonzalez energy director at Ontier law firm, cited by Montel.
  • Power volumes traded on the EEX grew by 47% on the year in May to 952.5TWh, largely driven by an increase in French, Spanish and Japanese volumes, EEX said.
  • Russian attacks on Ukraine’s power infrastructure have destroyed 9.2GW of generation capacity since March, Ukrainian officials said.
  • Ukraine's 334MW Kakhovka hydroelectric power plant could take around 6-7 years to build once the area is liberated, CEO of hydro plant operator Ukrhydroenerho said, cited by BBC.
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The French week-ahead contracts as far back as the third week ahead have remained sharply up on the day – also supporting the July product – to shrug off slight falls in European gas and emissions. In contrast, the German July has tracked losses in the energy complex, with gas-fired output up 1% on the year in May.

  • France Base Pwr Week 2 up 7.43% at 30.50 EUR/MWh.
  • France Base Pwr Week 3 up 2.53% at 34 EUR/MWh.
  • France Base Pwr Week 4 up 6.44% at 38 EUR/MWh.
  • Germany Base Pwr JUL 24 down 0.9% at 75.01 EUR/MWh.
  • TTF Gas JUL 24 down 0.4% at 33.21 EUR/MWh.
  • Rotterdam Coal JUL 24 down 3.2% at 111.3 USD/MT.
  • EUA DEC 24 down 0.2% at 71.71 EUR/MT
  • French wind forecast over the 7-13 June point to generation between 1.59-3.36GW, with solar anticipated between 2.34-3.88GW over the same period, according to SpotRenewables.
  • But the average temperature in Paris has been revised lower by up to 1C over 7-9 June to between 13-14.3C – well below the 30-year norm of around 16C, Bloomberg model show. Temperatures are anticipated to be between 13.5-15.5C over 10-15 June.
  • German lignite generation fell by around 10% on the year in May, with hard coal output falling by 32% amid less favourable generation margins, while gas and solar moved up by 1% and 9%, respectively, data from Entso-E show
  • Germany is expected to present its delayed power plant strategy before the summer break, economic minister Robert Habeck said on Thursday.
  • Renewable firm SSE Renewables has started producing power at its 443MW Viking wind farm in Scotland, with full commissioning expected in the summer of 2024, the firm said, cited by Renews.biz.
  • The Crown Estate has completed the pre-qualification questionnaire (PQQ) stage of the Celtic Sea Floating Offshore Wind Leasing Round 5, with the results anticipated in early July, according to the company.
  • Reduced and negative power prices in Spain have lowered investor appetite, with the value of solar power projects falling by 50% since last year, according to Lucia Gonzalez energy director at Ontier law firm, cited by Montel.
  • Power volumes traded on the EEX grew by 47% on the year in May to 952.5TWh, largely driven by an increase in French, Spanish and Japanese volumes, EEX said.
  • Russian attacks on Ukraine’s power infrastructure have destroyed 9.2GW of generation capacity since March, Ukrainian officials said.
  • Ukraine's 334MW Kakhovka hydroelectric power plant could take around 6-7 years to build once the area is liberated, CEO of hydro plant operator Ukrhydroenerho said, cited by BBC.