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German Sept Tracks 7% Weekly Gain

POWER
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The German September power base-load contract is edging lower today but is tracking a 7% weekly net increase amid strong gains in the wider European energy complex amid heightened Middle Eastern tensions.

    • France Base Power SEP 24 down 1.2% at 61.49 EUR/MWh
    • Germany Base Power SEP 24 down 2.5% at 85.2 EUR/MWh
    • EUA DEC 24 down 0.6% at 70.74 EUR/MT
    • TTF Gas SEP 24 down 1.9% at 36.26 EUR/MWh
    • Rotterdam Coal SEP 24 up 1% at 122.05 USD/MT
  • TTF front month is easing back slightly today but heading for a net gain on the week after rising to a high of 37.075/MWh yesterday due to supply risks from rising Middle East tensions and strong LNG demand from Asia and Egypt amid hot weather.
  • EU ETS Dec24 is trading lower today after yesterday’s rally amid gains in natural gas prices. The next German EUA CAP 3 auction will clear today 11:00 CET.
  • French nuclear availability was stable at 74% as of Friday morning, RTE data showed, cited by Bloomberg.
  • Planned works at 1.3GW Cattenom 4 have been extended by one day until 4 August. Planned maintenance at 1.335GW St Alban is scheduled to end one day earlier on 2 August.
  • In France, wind output in France is forecast to pick up on Saturday at 3.51GW during base load, up from 2.58GW forecast for Friday. Solar PV output is forecast at 4.22GW during base load on Saturday, broadly in line with forecasts for Friday according to SpotRenenwables.
  • French power demand is forecast at a maximum of 51.05GW on Friday and of 43.48GW on Saturday, Entso-E data showed.
  • The latest 6-10day ECMWF weather forecast for Paris suggested mean temperatures will be in line or above the seasonal normal throughout the forecast period. Max temps in Paris are forecast to reach around 32C at the end of the forecast period.
  • French net power exports are scheduled 4.31GW to Belgium on Friday, up from 3.21 scheduled for the day earlier. To Germany, net exports are scheduled at 3.44GW on Friday, slightly up from 3.56GW on Thursday. To Italy, net flows are scheduled at 2GW on Friday, unchanged on the day, Entso-E data showed.
  • In Germany, wind output on Saturday is forecast at 2.11GW during base load, slightly down from 2.74GW forecast for Friday. Solar PV output is forecast to increase to 12.23GW during base load on Saturday, up from 9.75GW forecast for Friday according to SpotRenewables.
  • German power demand is forecast to peak at 61.54GW on Friday and at 50.73GW on Saturday, Entso-E data showed.
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The German September power base-load contract is edging lower today but is tracking a 7% weekly net increase amid strong gains in the wider European energy complex amid heightened Middle Eastern tensions.

    • France Base Power SEP 24 down 1.2% at 61.49 EUR/MWh
    • Germany Base Power SEP 24 down 2.5% at 85.2 EUR/MWh
    • EUA DEC 24 down 0.6% at 70.74 EUR/MT
    • TTF Gas SEP 24 down 1.9% at 36.26 EUR/MWh
    • Rotterdam Coal SEP 24 up 1% at 122.05 USD/MT
  • TTF front month is easing back slightly today but heading for a net gain on the week after rising to a high of 37.075/MWh yesterday due to supply risks from rising Middle East tensions and strong LNG demand from Asia and Egypt amid hot weather.
  • EU ETS Dec24 is trading lower today after yesterday’s rally amid gains in natural gas prices. The next German EUA CAP 3 auction will clear today 11:00 CET.
  • French nuclear availability was stable at 74% as of Friday morning, RTE data showed, cited by Bloomberg.
  • Planned works at 1.3GW Cattenom 4 have been extended by one day until 4 August. Planned maintenance at 1.335GW St Alban is scheduled to end one day earlier on 2 August.
  • In France, wind output in France is forecast to pick up on Saturday at 3.51GW during base load, up from 2.58GW forecast for Friday. Solar PV output is forecast at 4.22GW during base load on Saturday, broadly in line with forecasts for Friday according to SpotRenenwables.
  • French power demand is forecast at a maximum of 51.05GW on Friday and of 43.48GW on Saturday, Entso-E data showed.
  • The latest 6-10day ECMWF weather forecast for Paris suggested mean temperatures will be in line or above the seasonal normal throughout the forecast period. Max temps in Paris are forecast to reach around 32C at the end of the forecast period.
  • French net power exports are scheduled 4.31GW to Belgium on Friday, up from 3.21 scheduled for the day earlier. To Germany, net exports are scheduled at 3.44GW on Friday, slightly up from 3.56GW on Thursday. To Italy, net flows are scheduled at 2GW on Friday, unchanged on the day, Entso-E data showed.
  • In Germany, wind output on Saturday is forecast at 2.11GW during base load, slightly down from 2.74GW forecast for Friday. Solar PV output is forecast to increase to 12.23GW during base load on Saturday, up from 9.75GW forecast for Friday according to SpotRenewables.
  • German power demand is forecast to peak at 61.54GW on Friday and at 50.73GW on Saturday, Entso-E data showed.