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End of Day Summary: Spain Resists TTF, Emission Rise

POWER
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The Spanish M1 power baseload power contract resisted increases in the energy complex to fall on the day amid high PV output forecasts, with temperatures anticipated to rise in June. The French June has also remained in red territory amid high nuclear availability, with Germany rising to track TTF and EU ETS increases.

  • Spain Base Pwr JUN 24 down 8.5% at 51 EUR/MWh
  • Germany Base Pwr JUN 24 up 1.9% at 76.77 EUR/MWh
  • France Base Pwr JUN 24 down 11.6% at 35.94 EUR/MWh
  • TTF Gas JUN 24 up 2.9% at 35.11 EUR/MWh
  • EUA DEC 24 up 1% at 76.35 EUR/MT.
  • Spanish PV generation is expected between 21-23% load factors, or 5.2-5.7GW over 1-5 June, with baseload PV output anticipated to reach as high as 14.45GW at 14:00 on 4 June, data from SpotRenewables show.
  • Peak load PV generation is anticipated at 40-44%, or about 10.09-11.14GW over the same period.
  • Temperatures in Spain are forecast to average ~20C across June compared to ~16C in May, before rising to about ~24C in July, according to Bloomberg Model.
  • High nuclear availability in France has placed downward pressure on the June contract, with about 3.71GW of nuclear capacity anticipated to come back online over 10-13 June, latest Remit data show.
  • France’s nuclear reactors were operating at 75% of capacity on Monday, up from 71% on Friday, according to Bloomberg calculations using data from grid operator RTE.
  • But French Utility EdF will halt its 1.31GW Golfech 2 nuclear reactor over 28-30 May, with the 915MW Tricastin 1 nuclear reactor disconnected over the same period, latest Remit data show.
  • Portugal’s new government plans to announce some details on its new offshore wind policy in July as it is committed to developing the technology, promoting PV and “repowering” offshore wind farms, the government said, cited by XM.
  • The Irish government has opened its fixed-tariff scheme to help renewable energy communities (RECs) and SME’s that produce their own power, with successful applicants receiving a premium on the market revenues, according to PV Magazine.
  • European PPAs fell from their yearly high on 24 May, edging down by €0.64/MWh – weighed down by losses in gas, EU ETS and power in the previous session, according to latest data from energy pricing firm Pexapark.
  • German multinational energy company Uniper will build a 50MW battery storage system at its 875MW Heyden hard coal plant, the firm said today.
  • 130MW of capacity on the unilateral auction between Ukraine-Poland (Zamosc-Dobrotwor) is on offer for June delivery, data from Polish transmission system operator PSE show.
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The Spanish M1 power baseload power contract resisted increases in the energy complex to fall on the day amid high PV output forecasts, with temperatures anticipated to rise in June. The French June has also remained in red territory amid high nuclear availability, with Germany rising to track TTF and EU ETS increases.

  • Spain Base Pwr JUN 24 down 8.5% at 51 EUR/MWh
  • Germany Base Pwr JUN 24 up 1.9% at 76.77 EUR/MWh
  • France Base Pwr JUN 24 down 11.6% at 35.94 EUR/MWh
  • TTF Gas JUN 24 up 2.9% at 35.11 EUR/MWh
  • EUA DEC 24 up 1% at 76.35 EUR/MT.
  • Spanish PV generation is expected between 21-23% load factors, or 5.2-5.7GW over 1-5 June, with baseload PV output anticipated to reach as high as 14.45GW at 14:00 on 4 June, data from SpotRenewables show.
  • Peak load PV generation is anticipated at 40-44%, or about 10.09-11.14GW over the same period.
  • Temperatures in Spain are forecast to average ~20C across June compared to ~16C in May, before rising to about ~24C in July, according to Bloomberg Model.
  • High nuclear availability in France has placed downward pressure on the June contract, with about 3.71GW of nuclear capacity anticipated to come back online over 10-13 June, latest Remit data show.
  • France’s nuclear reactors were operating at 75% of capacity on Monday, up from 71% on Friday, according to Bloomberg calculations using data from grid operator RTE.
  • But French Utility EdF will halt its 1.31GW Golfech 2 nuclear reactor over 28-30 May, with the 915MW Tricastin 1 nuclear reactor disconnected over the same period, latest Remit data show.
  • Portugal’s new government plans to announce some details on its new offshore wind policy in July as it is committed to developing the technology, promoting PV and “repowering” offshore wind farms, the government said, cited by XM.
  • The Irish government has opened its fixed-tariff scheme to help renewable energy communities (RECs) and SME’s that produce their own power, with successful applicants receiving a premium on the market revenues, according to PV Magazine.
  • European PPAs fell from their yearly high on 24 May, edging down by €0.64/MWh – weighed down by losses in gas, EU ETS and power in the previous session, according to latest data from energy pricing firm Pexapark.
  • German multinational energy company Uniper will build a 50MW battery storage system at its 875MW Heyden hard coal plant, the firm said today.
  • 130MW of capacity on the unilateral auction between Ukraine-Poland (Zamosc-Dobrotwor) is on offer for June delivery, data from Polish transmission system operator PSE show.