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France June Leads Gains on Outage Extension

POWER
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CWE June power prices are trading higher today amid gains in the wider energy complex with France leading gains supported by the extension of the maintenance at the Flamanville 2 nuclear reactor by 1.5 months. German front-week power base load is extending yesterday’s losses amid a further upward revision in wind forecasts.

    • France Base Power JUN 24 up 1.2% at 35.2 EUR/MWh
    • Germany Base Power JUN 24 up 0.8% at 72.55 EUR/MWh
    • EUA DEC 24 up 1.3% at 75.53 EUR/MT
    • TTF Gas JUN 24 up 2.1% at 34.25 EUR/MWh
  • EU ETS DEC 24 is edging slightly higher today amid further gains in European natural gas prices.
  • Front month TTF is edging higher today but is holding within yesterday’s range as curtailed Norwegian flows and Asian LNG appetite is weighed against muted demand and strong seasonal gas storage levels.
  • In Germany, forecasts for wind output have been revised up for the forecast period with combined onshore and offshore wind output at 3.89GW-17.09GW on 30 May to 5 June during base load. Solar PV has been revised down to reach 12.01GW to 28.13GW between 30 May and 7 June, with higher expected output at the end of the forecast period according to SpotRenewables.
  • German power demand is expected at a maximum of 63.13GW on Wednesday and of 52.89GW on Thursday according to Entso-E. Power demand is expected to drop on Thursday due to public holiday in parts of Germany.
  • French nuclear availability was at around 43.23GW, or 70% of capacity, this morning, down from 71% on Tuesday morning, RTE data cited by Reuters showed.
  • The 1.3GW Paluel 3 reactor will be offline until 30 June in an unplanned outage that started 28 May after a fire on the main transformer. The 1.33GW Flamanville 2 reactor maintenance has been extended to 1 August, from 18 June previously.
  • French power demand is forecast to reach a maximum of 50.55GW on Wednesday and of 49.8GW on Thursday according to Entso-E.
  • The latest ECMWF weather forecast suggests temperatures in Paris to be below the seasonal norm until 3 June after which temperatures will rise above normal. Maximum temperatures in Paris are forecast to reach 26C on 7 June.
  • French wind output forecasts have been revised down to 4.2GW-6.7GW during base-load hours on 30 May to 7 June. Solar PV is forecast at 5.88GW-8.1GW during peak load between 30 May and 7 June according to SpotRenewables.
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CWE June power prices are trading higher today amid gains in the wider energy complex with France leading gains supported by the extension of the maintenance at the Flamanville 2 nuclear reactor by 1.5 months. German front-week power base load is extending yesterday’s losses amid a further upward revision in wind forecasts.

    • France Base Power JUN 24 up 1.2% at 35.2 EUR/MWh
    • Germany Base Power JUN 24 up 0.8% at 72.55 EUR/MWh
    • EUA DEC 24 up 1.3% at 75.53 EUR/MT
    • TTF Gas JUN 24 up 2.1% at 34.25 EUR/MWh
  • EU ETS DEC 24 is edging slightly higher today amid further gains in European natural gas prices.
  • Front month TTF is edging higher today but is holding within yesterday’s range as curtailed Norwegian flows and Asian LNG appetite is weighed against muted demand and strong seasonal gas storage levels.
  • In Germany, forecasts for wind output have been revised up for the forecast period with combined onshore and offshore wind output at 3.89GW-17.09GW on 30 May to 5 June during base load. Solar PV has been revised down to reach 12.01GW to 28.13GW between 30 May and 7 June, with higher expected output at the end of the forecast period according to SpotRenewables.
  • German power demand is expected at a maximum of 63.13GW on Wednesday and of 52.89GW on Thursday according to Entso-E. Power demand is expected to drop on Thursday due to public holiday in parts of Germany.
  • French nuclear availability was at around 43.23GW, or 70% of capacity, this morning, down from 71% on Tuesday morning, RTE data cited by Reuters showed.
  • The 1.3GW Paluel 3 reactor will be offline until 30 June in an unplanned outage that started 28 May after a fire on the main transformer. The 1.33GW Flamanville 2 reactor maintenance has been extended to 1 August, from 18 June previously.
  • French power demand is forecast to reach a maximum of 50.55GW on Wednesday and of 49.8GW on Thursday according to Entso-E.
  • The latest ECMWF weather forecast suggests temperatures in Paris to be below the seasonal norm until 3 June after which temperatures will rise above normal. Maximum temperatures in Paris are forecast to reach 26C on 7 June.
  • French wind output forecasts have been revised down to 4.2GW-6.7GW during base-load hours on 30 May to 7 June. Solar PV is forecast at 5.88GW-8.1GW during peak load between 30 May and 7 June according to SpotRenewables.