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German July Power Widens Premium to France Amid Gas Rally

POWER
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German front-month power base load is rallying to the highest since 8 January, matching gains in the European gas market and widening the front-month spread to the French market to the highest since mid-April.

    • France Base Power JUL 24 up 6.5% at 47.5 EUR/MWh
    • Germany Base Power JUL 24 up 12.3% at 89.15 EUR/MWh
    • TTF Gas JUL 24 up 12.8% at 38.6 EUR/MWh
  • The outright German July power base load has risen to the highest since 27 December. The premium to the French July power base load contract has risen to €41.59/MWh today, the highest since contract start.
  • Gains in the French market have been less pronounced as limited demand for electric cooling, high nuclear availability and high hydro stocks are limiting the upside.
  • TTF has surged to the highest since 7 December today amid supply concerns as the Norway unplanned outages at Nyhamna and Easington are extended and now expected to last until at least Wednesday according to Gassco.
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German front-month power base load is rallying to the highest since 8 January, matching gains in the European gas market and widening the front-month spread to the French market to the highest since mid-April.

    • France Base Power JUL 24 up 6.5% at 47.5 EUR/MWh
    • Germany Base Power JUL 24 up 12.3% at 89.15 EUR/MWh
    • TTF Gas JUL 24 up 12.8% at 38.6 EUR/MWh
  • The outright German July power base load has risen to the highest since 27 December. The premium to the French July power base load contract has risen to €41.59/MWh today, the highest since contract start.
  • Gains in the French market have been less pronounced as limited demand for electric cooling, high nuclear availability and high hydro stocks are limiting the upside.
  • TTF has surged to the highest since 7 December today amid supply concerns as the Norway unplanned outages at Nyhamna and Easington are extended and now expected to last until at least Wednesday according to Gassco.