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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
France July Rallies
France July power base load is rallying to the highest since 13 June amid expectations of higher demand due to an upward revision in temperature forecasts, slightly lower nuclear availability and planned strike action in the country’s energy sector. The discount to the German equivalent narrowed to the lowest since 10 June today.
- France Base Power JUL 24 up 8.7% at 42.6 EUR/MWh
- Germany Base Power JUL 24 unchanged at 73.3 EUR/MWh
- EUA DEC 24 up 0.4% at 68.74 EUR/MT
- TTF Gas JUL 24 down 1% at 34.35 EUR/MWh
- Rotterdam Coal JUL 24 down 0.2% at 110.05 USD/MT
- TTF front month is softer today with a slight recovery in Norwegian supplies after an unplanned outage at Nyhamna yesterday ended. LNG competition from Asia, the future of Russian gas transit via Ukraine and further unplanned Norwegian outages are all upside risks.
- EU ETS Dec 24 is edging slightly higher today, shrugging off losses in European gas prices. The next EUA Polish CAP3 auction will clear today 11:00 CET.
- German wind output is forecast at 3.53GW to 12.8GW during base load on 20-26 June. Solar PV output is forecast at 17.83GW to 25.5GW during peak load between 20 and 28 June according to SpotRenewables.
- EnbW will undergo planned maintenance at the 778MW Heilbronn Block 7 hard coal plant until 21 August.
- In Switzerland, maintenance at the 365MW Beznau 1 nuclear plant is scheduled to end today.
- Industrial action in France’s energy sector is scheduled for 20 June. EdF announced workers will strike from 09:00 PM CET on Wednesday for the duration of 24 hours.
- French nuclear availability declined to 67% of capacity as of Wednesday morning, down from 69% the day earlier, data showed, cited by Bloomberg.
- The forced outage at the 915MW St Laurent 2 reactor has been extended by two days until 21 June. Planned works at the 880MW Bugey 4 reactor have been extended by seven days until 30 June.
- French power demand is forecast to reach a maximum of 50.12GW on Wednesday and fall down to a peak of 49.1GW on Thursday according to Entso-E.
- The latest ECMWF weather forecast for Paris suggested temperatures have been revised higher to rise above the seasonal normal from 23 June, with maximum temperatures to reach around 32C on 27 June.
- Wind output in France is forecast at 2.89GW – 7.3GW during base load on 20-28 June. Solar PV output in France is forecast at 4.54GW to 7.93GW during peak load on 20-28 June according to SpotRenewables.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.