MNI BRIEF: Fed's Goolsbee Taking Job Gains With Grain Of Salt

BRIEF: EU Says Engaging With China Over EV Trade Dispute

MNI BRIEF: Draghi Calls For Tariffs, Subsidies Against China

MNI BRIEF: China May M2 Slows To Record Low Again

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

US Treasury Auction Calendar

MNI: BAKER HUGHES US RIG COUNT 590; OIL RIGS 488; GAS RIGS 98

EZ/UK Bond Supply Calendar: Slovakia, Belgium, BoE APF Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Germany-France June Power Spread at Highest Since 26 April

POWER
Homepagemarkets-real-timeBullet

The German-French June power base-load spread is widening to the highest since 26 April today, amid sharper gains in the German settlement due to forecasts for low wind and strong gains in European carbon allowances and gas prices, while limited cooling demand and high nuclear availability have capped gains in the French market in recent days.

    • France Base Power JUN 24 up 4.5% at 38.75 EUR/MWh
    • Germany Base Power JUN 24 up 5% at 70.11 EUR/MWh
  • The Germany-France June power spread has been rising to €31.40/MWh today as of the time of writing.
  • Nuclear availability above the seasonal normal paired with limited demand for electric cooling in France are limiting upside to the French front month power contract.
  • The latest ECMWF 6-9 day weather forecast suggested temperatures in Paris are forecast to reach a maximum of 24°C during the period.
  • Nuclear availability in France stood at around 38.5GW as of this morning, compared with the seasonal average of 35.8GW, RTE data showed, cited by Bloomberg.
  • TTF front month has traded through the high of last week with support from geopolitical risks and with Norway supply outages this week. LNG supply risks in Asia add to risk of global competition for the fuel as Malaysia’s Bintulu plant slowly ramps up after outage earlier this month and with Australia’s Gorgon still offline.
  • EU ETS DEC 24 is trading at the highest since 10 May today amid gains in European gas prices. The next EU Primary Auction CAP 3 will clear today at 11:00 CET.
251 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.

The German-French June power base-load spread is widening to the highest since 26 April today, amid sharper gains in the German settlement due to forecasts for low wind and strong gains in European carbon allowances and gas prices, while limited cooling demand and high nuclear availability have capped gains in the French market in recent days.

    • France Base Power JUN 24 up 4.5% at 38.75 EUR/MWh
    • Germany Base Power JUN 24 up 5% at 70.11 EUR/MWh
  • The Germany-France June power spread has been rising to €31.40/MWh today as of the time of writing.
  • Nuclear availability above the seasonal normal paired with limited demand for electric cooling in France are limiting upside to the French front month power contract.
  • The latest ECMWF 6-9 day weather forecast suggested temperatures in Paris are forecast to reach a maximum of 24°C during the period.
  • Nuclear availability in France stood at around 38.5GW as of this morning, compared with the seasonal average of 35.8GW, RTE data showed, cited by Bloomberg.
  • TTF front month has traded through the high of last week with support from geopolitical risks and with Norway supply outages this week. LNG supply risks in Asia add to risk of global competition for the fuel as Malaysia’s Bintulu plant slowly ramps up after outage earlier this month and with Australia’s Gorgon still offline.
  • EU ETS DEC 24 is trading at the highest since 10 May today amid gains in European gas prices. The next EU Primary Auction CAP 3 will clear today at 11:00 CET.