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June France-Italy JAO CBC Auction Price Falls

POWER

The cross-border capacity (CBC) auctions for delivery in June on the Joint Allocation Office (JAO) on the France-Italy border closed at a lower price compared to the previous month, data from JAO show.

  • All 323MW of offered capacity in the France-Italy direction was allocated at €51.19/MWh, down from just 30MW allocated at €56.89/MWh for May delivery.
  • In the other direction, 162MW of 164MW of offered capacity was allocated at €0.14/MWh, down from 163MW for €0.18/MWh in May.
  • The rise of offered capacity comes amid French grid limitations coming to an end in the week of 2 May – easing bottlenecks between Belgium, Germany, Switzerland and Italy that were present since early March.
  • France-Italy spread is at €52.39/MWh discount at the time of writing, edging down slightly from -€52.73/MWh from the previous day.

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