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France July Power Erases Gains

POWER

France July power base load has reversed earlier gains to trade down on the day, shrugging off sharp gains in European gas prices, amid high nuclear availability, high hydropower stocks and limited demand for electric cooling.

    • France Base Power JUL 24 down 4.7% at 42.51 EUR/MWh
  • French nuclear availability has risen back up to 68% on Monday morning, compared with 66% on Friday, RTE data showed.
  • The latest ECMWF weather forecast for Paris has been revised down for this week with temperatures below the seasonal norm for most of the period until 13 June unlikely to boost any demand for cooling. The latest forecast for Marseille, south of France, however, forecasts maximum temperatures from 24.5C to 27C between 4-13 June, likely boosting some demand for electric cooling.

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