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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POWER
The French July power base-load contract has narrowed the discount to the German equivalent to the lowest since 15 May today, as an upward revision in temperature forecasts has lifted cooling demand expectations.
- France Base Power JUL 24 up 13.8% at 54.25 EUR/MWh
- Germany Base Power JUL 24 up 1.3% at 71.65 EUR/MWh
- The French-German July power spread has narrowed to €17.48/MWh today as of the time of writing, down from this month’s high of €40.48/MWh on 3 June and the lowest since 15 May.
- The latest ECMWF weather forecast for Paris suggested temperatures are expected to stay above the seasonal normal until 1 June, extending the warmer-than-usual period slightly, after which temperatures are forecast to drop below normal slightly. Maximum temperatures in Paris are forecast to reach 30C on 27 June.
- In the south of France, Marseille, mean temperatures are forecast to remain above the seasonal normal until 3 July, despite a slight downward revision in temperatures for this week.
- NW Europe is expected to have a daily average of three cooling degree days for the 1-5 days forecast period, which is two days above the 10-year average, according to WSI.
- France’s power load so far this month stood below the seasonal normal and averaged 40.86GW.
- French nuclear reactor availability remained high as of Tuesday morning with 70% of capacity online. Nuclear generation this month remained well above seasonal norm, averaging 38.36GW so far this month, which should limit gains in French front-curve power futures.
- BNEF expected French nuclear availability at 59% in June.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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