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POWER: EU Mid-Day Power Summary: France March Power Plunges

POWER
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France March power is trading at the lowest since 30 January, weighed on by forecasts for milder weather and sharp losses in EU gas prices. German front-month power is also pulling back, albeit at a slower pace. Nordic March power is also plunging with losses in EU gas, forecasts for warmer weather and an upward revision in the region’s hydro balances. 

  • Nordic Base Power MAR 25 down 10.3% at 40.7 EUR/MWh
  • France Base Power MAR 25 down 7.3% at 83 EUR/MWh
  • Germany Base Power MAR 25 down 6.1% at 100.37 EUR/MWh
  • EUA DEC 25 down 2.7% at 78.11 EUR/t CO2e
  • TTF Gas MAR 25 down 6.6% at 51.965 EUR/MWh
  • TTF front month is extending the decline this week under pressure by the prospect of peace talks over the Ukraine war and as countries push for the EU to relax gas storage targets.
  • EUAs 2025 are also pulling back with sharp losses in EU gas prices and warmer weather, while a rebound in EU equities is capping losses.
  • The latest EU ETS CAP3 auction cleared lower at €76.77/ton CO2e, compared with €80.08/ton CO2e in the previous auction, while widening the discount to the futures contract.
  • The UK government launched new investment, Clean Industry Bonus, providing financial support to offshore wind developers to invest in industrial, oil and gas communities.
  • Joint Research Centre said that the GHG emissions trend for the six Western Balkans economies does not correspond to the emission reduction rate needed to reach the EU’s 2030 climate goals.
  • French solar and renewable lobbies warn that government plans to cut subsidies for medium-sized projects could stall market growth and put thousands of jobs at risk.
  • Planned maintenance at EdF’s 610MW Heysham nuclear reactor in the UK has been extended by six days until 25 March.
  • Italian hydropower reserves last week declined by 0.15TWh to 2.48TWh to fall below the five-year average for the first time this year.
  • Acer has decided not to implement long-term transmission rights (LTTRs) between the Netherlands and Norway (NO2), citing limited benefits and potentially higher costs for consumers.
  • Estonia receives 17 bids for onshore wind areas, with state land leased for up to 40 years and the development procedures to be concluded in 1Q25.
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France March power is trading at the lowest since 30 January, weighed on by forecasts for milder weather and sharp losses in EU gas prices. German front-month power is also pulling back, albeit at a slower pace. Nordic March power is also plunging with losses in EU gas, forecasts for warmer weather and an upward revision in the region’s hydro balances. 

  • Nordic Base Power MAR 25 down 10.3% at 40.7 EUR/MWh
  • France Base Power MAR 25 down 7.3% at 83 EUR/MWh
  • Germany Base Power MAR 25 down 6.1% at 100.37 EUR/MWh
  • EUA DEC 25 down 2.7% at 78.11 EUR/t CO2e
  • TTF Gas MAR 25 down 6.6% at 51.965 EUR/MWh
  • TTF front month is extending the decline this week under pressure by the prospect of peace talks over the Ukraine war and as countries push for the EU to relax gas storage targets.
  • EUAs 2025 are also pulling back with sharp losses in EU gas prices and warmer weather, while a rebound in EU equities is capping losses.
  • The latest EU ETS CAP3 auction cleared lower at €76.77/ton CO2e, compared with €80.08/ton CO2e in the previous auction, while widening the discount to the futures contract.
  • The UK government launched new investment, Clean Industry Bonus, providing financial support to offshore wind developers to invest in industrial, oil and gas communities.
  • Joint Research Centre said that the GHG emissions trend for the six Western Balkans economies does not correspond to the emission reduction rate needed to reach the EU’s 2030 climate goals.
  • French solar and renewable lobbies warn that government plans to cut subsidies for medium-sized projects could stall market growth and put thousands of jobs at risk.
  • Planned maintenance at EdF’s 610MW Heysham nuclear reactor in the UK has been extended by six days until 25 March.
  • Italian hydropower reserves last week declined by 0.15TWh to 2.48TWh to fall below the five-year average for the first time this year.
  • Acer has decided not to implement long-term transmission rights (LTTRs) between the Netherlands and Norway (NO2), citing limited benefits and potentially higher costs for consumers.
  • Estonia receives 17 bids for onshore wind areas, with state land leased for up to 40 years and the development procedures to be concluded in 1Q25.