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End of Day Summary: FR-DE Aug 24 Power Discount Widens on FR Curtailments

POWER
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The French-German August 24 power baseload power contract discount rebounded on Friday amid French TSO RTE suggesting curtailments of power exports from August until mid-October due to domestic gird constraints. The contracts are currently down on the day – tracking TTF and EU ETS prices.

  • Germany Base Pwr AUG 24 down 1.71% at 83.86 EUR/MWh.
  • France Base Pwr AUG 24 down 5.79% at 60 EUR/MWh.
  • TTF Gas AUG 24 down 3.18% at 34.755 EUR/MWh.
  • EUA DEC 24 down 0.21% at 75.65 EUR/MT.
  • The French-German AUG 24 discount is at €23.86/MWh, widening from €21.63/MWh on 23 May but down from €24.58/MWh on 22 May.
  • TSO officials stated in an online meeting that there "would be quite significant curtailments from August to mid-October, as severe as what we recently saw," a London-based trader told Montel.
  • The officials also said further export cuts could take place next year but gave no details, market participants added.
  • The December 2024 EU ETS contract edged down on Friday – dropping to a three-day low- amid losses in the European gas and coal markets. Despite this, the contract is up ~8% on the week.
  • The latest weekly German EUA CAP3 auction cleared today at €72.80/t CO2e, up from €69.46/t CO2e in the previous auction held on 17 May according to EEX.
  • European power purchase agreement (PPA) prices rose by 1.6% in April from March to €48.2/MWh, with 28 PPAs, or about 1.5GW, announced over the month – doubling volumes from the previous month, according to latest monthly commentary from energy pricing firm Pexapark.
  • European power purchased agreements (PPAs) increased to their highest this year on 23 May, edging up by €0.67/MWh – supported by gains in gas, EU ETS and power in the previous session, according to Pexapark.
  • Latvian state-owned firm Latvenergo has acquired a 100% stake in the 124MW Telsia wind farm in Lithuania, with the plant expected first to start delivering power in 1Q26, according to ReNews.biz.
  • Renewable developer Valorem Energies Finland is planning to build a 60MW PV farm in Finland, with planning and permitting to commence in 2025, the firm said today.
  • Ukraine is in talks to maximise possible power imports from EU countries to compensate for the generation capacity destroyed by the Russian attacks, the Ukrainian energy ministry said, cited by XM.
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The French-German August 24 power baseload power contract discount rebounded on Friday amid French TSO RTE suggesting curtailments of power exports from August until mid-October due to domestic gird constraints. The contracts are currently down on the day – tracking TTF and EU ETS prices.

  • Germany Base Pwr AUG 24 down 1.71% at 83.86 EUR/MWh.
  • France Base Pwr AUG 24 down 5.79% at 60 EUR/MWh.
  • TTF Gas AUG 24 down 3.18% at 34.755 EUR/MWh.
  • EUA DEC 24 down 0.21% at 75.65 EUR/MT.
  • The French-German AUG 24 discount is at €23.86/MWh, widening from €21.63/MWh on 23 May but down from €24.58/MWh on 22 May.
  • TSO officials stated in an online meeting that there "would be quite significant curtailments from August to mid-October, as severe as what we recently saw," a London-based trader told Montel.
  • The officials also said further export cuts could take place next year but gave no details, market participants added.
  • The December 2024 EU ETS contract edged down on Friday – dropping to a three-day low- amid losses in the European gas and coal markets. Despite this, the contract is up ~8% on the week.
  • The latest weekly German EUA CAP3 auction cleared today at €72.80/t CO2e, up from €69.46/t CO2e in the previous auction held on 17 May according to EEX.
  • European power purchase agreement (PPA) prices rose by 1.6% in April from March to €48.2/MWh, with 28 PPAs, or about 1.5GW, announced over the month – doubling volumes from the previous month, according to latest monthly commentary from energy pricing firm Pexapark.
  • European power purchased agreements (PPAs) increased to their highest this year on 23 May, edging up by €0.67/MWh – supported by gains in gas, EU ETS and power in the previous session, according to Pexapark.
  • Latvian state-owned firm Latvenergo has acquired a 100% stake in the 124MW Telsia wind farm in Lithuania, with the plant expected first to start delivering power in 1Q26, according to ReNews.biz.
  • Renewable developer Valorem Energies Finland is planning to build a 60MW PV farm in Finland, with planning and permitting to commence in 2025, the firm said today.
  • Ukraine is in talks to maximise possible power imports from EU countries to compensate for the generation capacity destroyed by the Russian attacks, the Ukrainian energy ministry said, cited by XM.