MNI BRIEF: BOC Sees Milder Reaction To Tariffs Than To Covid

BOC SAYS ITS RESPONSE TO A TARIFF WAR WON'T BE LIKE IN COVID

BOC: TRADE THREATS ALREADY BLURRING DOMESTIC ECONOMIC REBOUND

MNI INTERVIEW2 -Banxico Optimistic On Non-Core Inflation-Heath

MNI China Daily Summary: Friday, February 21

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 488; GAS RIGS 99

BAKER HUGHES CANADA RIG COUNT 244; OIL RIGS 174; GAS RIGS 70

MNI: US NAR: JAN EXISTING HOME SALES 4.08M SAAR

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: German DA Widens Premium to France, but Could Narrow for 29 Jan Delivery

POWER
BulletPower BulletsEnergy BulletsCommodities

German day-ahead prices surged due to lower wind and higher demand, raising the country's residual load. While, French prices saw smaller gains, as firm wind limited gains from lower nuclear availability and rising demand. For 29 Jan delivery, France may trade at a discount to Germany amid slightly higher load factors of wind, though the price gap could narrow with demand in France higher than the latter.

  • The German day-ahead spot settled at €106.37/MWh from €60.17/MWh on the previous day.
  • The French day-ahead spot cleared at €30.53/MWh from €28.94/MWh on the previous day.
  • Germany was at a €75.84/MWh premium from a €31.23/MWh premium in the previous session.
  • Wind output in Germany is forecast to decline to 24.02GW, or a 37% load factor on Tuesday during base load, down from 36.06GW on Monday, according to SpotRenewables.
  • Wind will then be at 28.99GW, or 45% load factor the next day – likely dropping costs from the previous session.
  • Power demand in Germany is forecast to rise to 61.56GW on Tuesday, up from 60.54GW on Monday amid mean temperatures in Dusseldorf forecast to decline to 7.6C on Tuesday, down from 9.4C on Monday and above the seasonal average of 3C, according to Bloomberg.
  • Demand will then remain firm on the day at 61.32GW on 29 January.
  • Residual load in Germany is forecast to rise to 29.54GWh/h on Tuesday, up from 17.69GWh/h on Monday according to Reuters.
  • In contrast, wind output in France is forecast to remain high at 14.58GW, or 73% load factor during base load on Tuesday, compared with 14.09GW on Tuesday according to SpotRenwewables.
  • Wind will then be at a 48% load factor, or 9.51GW on 29 January – which could keep France at a discount to Germany.
  • Power demand in France is forecast to rise to 64GW on Tuesday, up from 61.58GW on Wednesday as mean temperatures in Paris are forecast to decline to 8.3C on Tuesday, down from 9.9C on Monday and above the seasonal average of 4.3C, according to Bloomberg.
  • Demand will then be at 65.01GW on 29 January.
  • Residual load in France is forecast to edge higher to 42.88GWh/h on Tuesday, up from 41.02GWh/h on Monday according to Reuters.
  • Nuclear availability in France declined to 81% of capacity as of Monday morning, down from 92% on Friday, RTE data showed, cited by Bloomberg.
372 words

To read the full story

Close

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.

German day-ahead prices surged due to lower wind and higher demand, raising the country's residual load. While, French prices saw smaller gains, as firm wind limited gains from lower nuclear availability and rising demand. For 29 Jan delivery, France may trade at a discount to Germany amid slightly higher load factors of wind, though the price gap could narrow with demand in France higher than the latter.

  • The German day-ahead spot settled at €106.37/MWh from €60.17/MWh on the previous day.
  • The French day-ahead spot cleared at €30.53/MWh from €28.94/MWh on the previous day.
  • Germany was at a €75.84/MWh premium from a €31.23/MWh premium in the previous session.
  • Wind output in Germany is forecast to decline to 24.02GW, or a 37% load factor on Tuesday during base load, down from 36.06GW on Monday, according to SpotRenewables.
  • Wind will then be at 28.99GW, or 45% load factor the next day – likely dropping costs from the previous session.
  • Power demand in Germany is forecast to rise to 61.56GW on Tuesday, up from 60.54GW on Monday amid mean temperatures in Dusseldorf forecast to decline to 7.6C on Tuesday, down from 9.4C on Monday and above the seasonal average of 3C, according to Bloomberg.
  • Demand will then remain firm on the day at 61.32GW on 29 January.
  • Residual load in Germany is forecast to rise to 29.54GWh/h on Tuesday, up from 17.69GWh/h on Monday according to Reuters.
  • In contrast, wind output in France is forecast to remain high at 14.58GW, or 73% load factor during base load on Tuesday, compared with 14.09GW on Tuesday according to SpotRenwewables.
  • Wind will then be at a 48% load factor, or 9.51GW on 29 January – which could keep France at a discount to Germany.
  • Power demand in France is forecast to rise to 64GW on Tuesday, up from 61.58GW on Wednesday as mean temperatures in Paris are forecast to decline to 8.3C on Tuesday, down from 9.9C on Monday and above the seasonal average of 4.3C, according to Bloomberg.
  • Demand will then be at 65.01GW on 29 January.
  • Residual load in France is forecast to edge higher to 42.88GWh/h on Tuesday, up from 41.02GWh/h on Monday according to Reuters.
  • Nuclear availability in France declined to 81% of capacity as of Monday morning, down from 92% on Friday, RTE data showed, cited by Bloomberg.