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French Day-Ahead Baseload Power Below €20/MWh

POWER
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French day-ahead price decreased sharply on the day as wind forecasts point to steady wind output on Tuesday – with prices lowest in the EU region again – with high French nuclear availability adding additional downward pressure. Upward movements in the French day-ahead market could be somewhat limited this week amid firm wind power forecasts anticipated.

  • The French base day ahead closed lower by ~35% on the day at €19.30/MWh from €30.08/MWh on 27 May.
  • Peak-load prices traded at €0.00/MWh for delivery hours between 13-16 on 28 May.
  • The German base day ahead moved down to €90.75/MWh from €106.88/MWh on the previous day.
  • German solar output on Tuesday is seen peaking at 29.24GW at 2 pm CET, compared with a high of 33.47GW at 2 pm on Monday: Bloomberg model.
  • France’s nuclear reactors were operating at 75% of capacity on Monday, up from 71% on Friday, according to Bloomberg calculations using data from grid operator RTE.
  • French Wind over the 28-31 May is forecast between 24-36% load factors, or 4.87-7.25GW.
  • French PV output is expected at 13-20% load factors or 2.4-3.88GW over the same period.
  • Warmer-than-normal temperatures are expected across Europe in the next two weeks, according to Weather Services International, with temperatures in the southeast especially high relative to the 30-year norm.
  • In Rome, the mean temperature is forecast to rise as high as 24C on June 4, 3C above the 30-year norm.
  • Higher than normal temperatures could lead to higher demand on the year – raising power cost in southeast Europe.

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French day-ahead price decreased sharply on the day as wind forecasts point to steady wind output on Tuesday – with prices lowest in the EU region again – with high French nuclear availability adding additional downward pressure. Upward movements in the French day-ahead market could be somewhat limited this week amid firm wind power forecasts anticipated.

  • The French base day ahead closed lower by ~35% on the day at €19.30/MWh from €30.08/MWh on 27 May.
  • Peak-load prices traded at €0.00/MWh for delivery hours between 13-16 on 28 May.
  • The German base day ahead moved down to €90.75/MWh from €106.88/MWh on the previous day.
  • German solar output on Tuesday is seen peaking at 29.24GW at 2 pm CET, compared with a high of 33.47GW at 2 pm on Monday: Bloomberg model.
  • France’s nuclear reactors were operating at 75% of capacity on Monday, up from 71% on Friday, according to Bloomberg calculations using data from grid operator RTE.
  • French Wind over the 28-31 May is forecast between 24-36% load factors, or 4.87-7.25GW.
  • French PV output is expected at 13-20% load factors or 2.4-3.88GW over the same period.
  • Warmer-than-normal temperatures are expected across Europe in the next two weeks, according to Weather Services International, with temperatures in the southeast especially high relative to the 30-year norm.
  • In Rome, the mean temperature is forecast to rise as high as 24C on June 4, 3C above the 30-year norm.
  • Higher than normal temperatures could lead to higher demand on the year – raising power cost in southeast Europe.