German June Power Edges Lower, Tracks EU ETS

German June Power base load is edging higher but remains within this week’s range tracking gains in European carbon allowances. France June power base load closed yesterday at the lowest since 29 April, weighed on by limited cooling demand and nuclear availability above the seasonal norm.

• Germany Base Power JUN 24 up 0.6% at 65.63 EUR/MWh
• EUA DEC 24 up 0.1% at 69.52 EUR/MT
• TTF Gas JUN 24 down 0.2% at 29.685 EUR/MWh
• France June power base load closed yesterday at €37.28/MWh, down 8.7% on the day.
• TTF front month is holding within the weekly €29.15/MWh to €30.57/MWh range with stable supplies and muted demand amid mild temperatures but with support from ongoing concern for supply via Ukraine.
• EU ETS DEC 24 is edging higher today. The next EUA EU Primary Auction CAP 3 will clear today at 11:00 CET.
• The latest forecast for German suggested combined onshore and offshore wind output at 3.8GW to 28.17GW on 17-23 May during base load. Solar PV output in Germany is forecast at 12.8GW to 27.47GW during peak load on 17 to 25 May according to spotrenewables.
• German power demand is forecast to rise to a maximum of 62.38GW on Thursday and of 62.14GW on Friday.
• In France, the latest forecasts estimated wind output to reach 1.4GW to 4.6GW during base-load hours on 17-25 May. Solar PV output is forecast at 5.46GW to 7.4GW during peak load on 17 to 25 May according to spotrenewables.
• The 890MW Dampierre 2 nuclear reactor is operating at reduced capacity until 19 May. 910MW St Laurent 2 is ramping up output until 18 May. The 905MW Chinon 1 and the 1.33GW Paluel 3 reactors are scheduled to return this evening.
• French power demand is expected to reach a maximum of 52.15GW on Thursday and of 51.48GW on Friday.
• In Belgium, the 445MW Doel 2 nuclear reactor went offline this morning for 1.5 days for planned maintenance.