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FR, DE Sept Power Edges Lower

POWER

CWE front-month power prices are edging lower on Friday with initially losses from European gas prices and carbon allowances. Liquidity is expected to be thin today amid public holiday in parts of CWE.

    • France Base Power SEP 24 down 0.4% at 65 EUR/MWh
    • Germany Base Power SEP 24 down 0.1% at 90.75 EUR/MWh
    • EUA DEC 24 down 0.5% at 71.51 EUR/MT
    • TTF Gas SEP 24 up 0.4% at 39.14 EUR/MWh
  • TTF front month is recovering slightly after initial losses with pipeline supplies through Ukraine holding near normal despite Ukraine’s incursion into Kursk.
  • EU ETS Dec24 is edging down on Thursday morning amid initial losses in European gas and forecasts for cooler weather in Europe. The next EU EUA CAP 3 auction will clear at 11:00CET today.
  • In Germany, wind output is forecast to increase on Friday to 7.03GW during base load, up from 5.36GW forecast for Thursday. Solar PV output is forecast at 11.78GW during base load, down from 12.95GW forecast for Thursday according to SpotRenewables.
  • German power demand is forecast to peak at 56.96GW on Thursday and at 60.23GW on Friday according to Entso-E.
  • In France, nuclear availability stood at 75% as of Wednesday morning, data showed, cited by Bloomberg.
  • EdF is cutting nuclear generation at the St Alban, Bugey and Tricastin nuclear plants this week amid forecasts for high temperatures at the Rhone river.
  • The unplanned outage at 1.3GW Cattenom 3 has been extended until 16 Aug 23:00 CET.
  • Planned works at Flamanville 2 have been extended by ten days until 9 September. The outage started on 23 February.
  • In France, wind output is forecast to edge slightly higher on Thursday on Friday to 2.7GW during base load, up from 2.31GW forecast for Thursday. Solar PV output is forecast to be broadly stable on the day at 3.65GW during base load according to SpotRenewables.
  • The latest 6-10 days ECMWF weather forecast for Paris suggested mean temperatures have significantly revised down with temperatures to remain below and near the 30-year normal for the forecast period.
  • Power demand in France is forecast at a maximum of 43.36GW on Thursday and of 46.13GW on Friday, Entso-E data showed.
  • France’s net power exports to Belgium are scheduled at 2.94GW on Thursday, down from 3.39GW on Wednesday. To Germany, net exports are scheduled to rise to 2.08GW on Thursday, up from 1.04GW scheduled for Wednesday. Net exports to Italy are scheduled at 2.065GW, up from 2.22GW scheduled from the day earlier. France switcher to a power net exporter to Switzerland on Thursday of 1.35GW, compared with scheduled net imports of 700MW the day before.

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