POWER: French Feb Falls from Previous Session but Tracks Weekly Net Rise

France's February power is pulling back amid forecasts for milder weather, losses in the energy complex and high nuclear availability. However, the contract is tracking a weekly net rise of above 4%.

• France Base Power FEB 25 down 1.9% at 91.5 EUR/MWh
• Germany Base Power FEB 25 down 1.2% at 101.07 EUR/MWh
• EUA DEC 25 down 0.1% at 78.25 EUR/MT
• TTF Gas FEB 25 down 0.5% at 46.03 EUR/MWh
• Nuclear availability in France was stable at 92% of capacity as of Friday morning, unchanged from Thursday, RTE data showed, cited by Bloomberg.
• The latest 6-10 day ECMWF weather forecast for Paris suggested mean temperatures have been revised higher with temperatures below normal until 23 January, before rising above the average until the end of the forecast period.
• Mean temperatures in Paris are forecast to fall to 0.3C on Saturday and to -0.45C on Sunday, compared with 1.75C on Friday.
• Power demand in France is forecast to drop 69.84GW on Saturday before dropping further to 68.79GW on Sunday, compared with 73.77GW on Friday according to Bloomberg.
• Wind output in France is forecast to decline to 1.18GW during base load on Saturday before dropping to 1.16GW on Sunday, compared with 1.26GW on Friday according to SpotRenewables.
• Residual load in France is forecast to decline to 69.28GWh/h on Saturday and drop to 66.68GWh/h on Sunday, compared with 70.47GWh/h on Friday according to Reuters.
• France’s hydro balance has been revised higher on the day to end at -1.76TWh on 31 January from -2.17TWh forecasted a day earlier.