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POWER: Mid-Day Power Summary: DE-FR February Power Spread at One-Month Low

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The Germany-France February power spread is narrowing to the lowest since 6 December today, with sharper losses in the German market weighed on by lower EU gas and emissions allowances, while colder weather is keeping a lid on French losses. Nordic February power is holding onto to a new contract low with forecasts for temperatures in line with the average and an upward revision hydro balances. 

  • Nordic Base Power FEB 25 down 6.1% at 39.2 EUR/MWh
  • France Base Power FEB 25 down 1.2% at 103.34 EUR/MWh
  • Germany Base Power FEB 25 down 2.5% at 109.3 EUR/MWh
  • EUA DEC 25 down 2.6% at 73.98 EUR/MT
  • TTF Gas FEB 25 down 2.9% at 48.17 EUR/MWh
  • TTF front month has paused the recent rally to trade at the lowest since 31 December, weighed on by slightly higher LNG sendout.
  • EU ETS December 2025 is also pulling back today with losses in EU gas prices and warm, windy weather in the first half of this week. The next EU EUA CAP3 auction will take place on Tuesday.
  • German hourly day-ahead prices are expected to be higher in 2025 compared with 2024 after seeing two consecutive years of declines according to ICIS.
  • Germany’s solar capacity surpassed 100GW at the turn of 2024, German Solar Industry Association said.
  • Wind power accounted for 29% of the UK’s power mix in 2024, overtaking gas-fired generation for the first time that reached a share of 25.9%
  • The UK and the Netherlands are planned to connect grids via the LionLink direct-current hybrid interconnector via the Nederwiek 3 offshore wind farm.
  • Belgian renewable generation accounted for 29.8% of the country’s power mix in 2024, compared with 28.2% in 2023 and a new record, driven by the country’s solar PV expansion.
  • Czech electricity consumption in 2024 – adjusted for temperatures – declined by 0.6% on the year, Amper Group said.
  • The International Atomic Energy Agency said on Sunday that most of the nuclear reactors under Ukrainian control reduced generation levels after the massive attack Sunday morning by Russia against the Ukrainian energy infrastructure.
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The Germany-France February power spread is narrowing to the lowest since 6 December today, with sharper losses in the German market weighed on by lower EU gas and emissions allowances, while colder weather is keeping a lid on French losses. Nordic February power is holding onto to a new contract low with forecasts for temperatures in line with the average and an upward revision hydro balances. 

  • Nordic Base Power FEB 25 down 6.1% at 39.2 EUR/MWh
  • France Base Power FEB 25 down 1.2% at 103.34 EUR/MWh
  • Germany Base Power FEB 25 down 2.5% at 109.3 EUR/MWh
  • EUA DEC 25 down 2.6% at 73.98 EUR/MT
  • TTF Gas FEB 25 down 2.9% at 48.17 EUR/MWh
  • TTF front month has paused the recent rally to trade at the lowest since 31 December, weighed on by slightly higher LNG sendout.
  • EU ETS December 2025 is also pulling back today with losses in EU gas prices and warm, windy weather in the first half of this week. The next EU EUA CAP3 auction will take place on Tuesday.
  • German hourly day-ahead prices are expected to be higher in 2025 compared with 2024 after seeing two consecutive years of declines according to ICIS.
  • Germany’s solar capacity surpassed 100GW at the turn of 2024, German Solar Industry Association said.
  • Wind power accounted for 29% of the UK’s power mix in 2024, overtaking gas-fired generation for the first time that reached a share of 25.9%
  • The UK and the Netherlands are planned to connect grids via the LionLink direct-current hybrid interconnector via the Nederwiek 3 offshore wind farm.
  • Belgian renewable generation accounted for 29.8% of the country’s power mix in 2024, compared with 28.2% in 2023 and a new record, driven by the country’s solar PV expansion.
  • Czech electricity consumption in 2024 – adjusted for temperatures – declined by 0.6% on the year, Amper Group said.
  • The International Atomic Energy Agency said on Sunday that most of the nuclear reactors under Ukrainian control reduced generation levels after the massive attack Sunday morning by Russia against the Ukrainian energy infrastructure.