May 23, 2024 13:32 GMT
June Spain-France JAO CBC Auction Price Falls to Yearly Low
POWER
The latest cross-border capacity (CBC) auction for delivery in June on the Joint Allocation Office (JAO) in the Spanish-French direction fell to a yearly low, while prices in the other direction reached a yearly high, according to JAO.
- All 1GW of offered capacity in the Spanish-French direction was allocated at just €3.58/MWh, down from €8.44/MWh for 959MW for May delivery. Monthly auction prices in this direction have since come down from the yearly auction high of €21.53/MWh for 520MW in March.
- In the other direction, 833MW of offered capacity was allocated at €15.55/MWh, sharply up from €3.88/MWh for 1.72GW for May. Monthly auction prices in this direction have been on an upward trend since March.
- The French-Spanish spread is at a €15.65/MWh discount at the time of writing, up from €11.83/MWh on 22 May.
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