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France June Power Widens Spread to Germany

POWER

The French June power base-load contract is reversing earlier losses to trade higher on the day, amid gains in the wider European energy complex. Upside is limited amid muted demand for electric cooling and nuclear availability above the seasonal norm.

    • France Base Power JUN 24 up 0.3% at 37.4 EUR/MWh
    • Germany Base Power JUN 24 up 1% at 65.9 EUR/MWh
  • The France June power base-load contract widened the discount to the German equivalent to €28.57/MWh, the highest since 30 April, amid faster gains in the German market.
  • French nuclear generation stood at an average of 40.211GW so far today, as of the time of writing, compared with the five-year average of 35GW for 16 May, RTE data showed.
  • The latest ECMWF forecast suggested temperatures in Paris to rise to a maximum of just above 20°C, which is unlikely to boost demand for electric cooling.
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