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French Peak Load Prices Avoid Negative Territory

POWER

The French day-ahead base load on the Epex Spot almost halved on the day to €42.12/MWh, down from €81.83/MWh the day before amid lower demand and stable wind output. Germany, Belgium, Austria and Dutch prices moved into negative territory for some hours amid high renewables output.

  • The French peak-load spot declined significantly to €20.47/MWh, compared with €70.31/MWh the day prior. Prices fell to as low as €0/MWh on Saturday but did not move into negative territory amid lower solar PV output.
  • Wind output in France is forecast to be broadly stable on the day, while solar PV is forecast to fall. Wind output is forecast to reach a maximum of 5.71GW on Saturday, broadly stable on the day. Solar PV output is forecast to fall to a peak of 6.99GW on Saturday, compared with a high of 9.4GW on Friday according to SpotRenewables.
  • French power demand is forecast to reach a maximum 44.29GW on Saturday, down from a peak of 47.97GW on Friday according to Entso-E.
  • French nuclear availability declined to 68% on Friday morning, down from 70% as of Thursday morning, RTE data showed, cited by Bloomberg, amid an unplanned outage at the Bugey 5 reactor.
  • In Germany, wind and solar PV output is both forecast to rise on the day. Combined onshore and offshore wind output is forecast to peak at 15.5GW on Saturday, compared with a high of 11.6GW late on Friday. Solar PV generation is forecast to reach 33.9GW on Saturday, up from a high of 26.3GW on Friday according to SpotRenewables.
  • Power demand in Germany is forecast to fall to maximum of 52.94GW on Saturday, down from a peak of 63.15GW on Friday.
  • The German day-ahead base load on the Epex Spot declined to €52.22/MWh, down from €97.14/MWh in the previous session.
  • The German peak-load spot index also decreased sharply to €28.15/MWh, compared with €97.67/MWh. German prices fell into negative territory for two hours between 2-4PM CET.
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