French Day-Ahead Clears Negative, Germany Below €10/MWh

The German and French day ahead base-load contracts fell sharply down on the day – with negative prices in France clearing as high as €-80.02/MWh – amid lower power demand over the weekend and strong wind generation. Wind output is expected to drop early next week, possibly supporting power prices.

• The German day-ahead spot settled at €7.64/MWh, sharply down from €78.40/MWh on the previous day.
  
• The French day-ahead spot closed at €-5.76/MWh from €16.41/MWh on the previous day.
• No negative power prices were present for any baseload or peak load hours for delivery on 14 June in France, with prices at €0.00/MWh for hours 15-16,16-17 and 17-18.
• This is slightly different for delivery on 15 June, with negative prices for 9 delivery hours between €-2.36 and €-80.02/MWh. This highest negative price was seen for delivery in hour 14-15.
• Negative power prices for some delivery hours were also present in Germany, with negative prices reaching as high as €-80.01/MWh also for hour 14-15.
• German wind output is expected at 20.98GW, or 32% load factor on 15 June, before decreasing between 2.66-13.36GW over 16-18 June, according to Spot Renewables.
• German power demand is forecast to be between 34.37-51.27GW over 15-16 June, down from 41.34-63.11GW on Friday, data from Entso-E show.
• In contrast, French wind output is expected at 10.75GW, or 52% load factor on 15 June, before decreasing to 2.67-7.3GW over 16-18 June.
• French power demand is forecast to be between 31-45.1GW over the weekend, down from 34.5-49.45GW on Friday.