May 17, 2024 09:35 GMT
Engie Advances Outright Power Hedges at Lower Prices
POWER
France’s Engie advanced its outright power production hedging – nuclear and hydropower generation – in Europe quarter on quarter at lower prices, the utility said during the Q1 2024 earnings call.
- Engie hedged 81% of its outright power production in Europe for 2024 at an average price of €118/MWh as of Q1 2024, up from 71% hedged at €128/MWh as of the end of last year.
- For 2025, the utility hedged 33% of the European power generation at an average price of €139/MWh as of the end of the first quarter of this year, up from 29% hedged at an average price of €147/MWh as of the end of 2023.
- For 2026, Engie hedged 25% of the European power production at an average price of €103/MWh, up from 21% at €110/MWh at the end of last year.
137 words