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Mid-Day Power Summary: France, German August Track Weekly Loss

POWER

The France and German August power base load contracts are on track for a weekly net decline, with more pronounced losses in the French market due to a downward revision in temperature forecasts, lowering cooling demand expectations, and additional pressure from weekly declines in European natural gas prices.

    • France Base Power AUG 24 down 0.5% at 44.51 EUR/MWh
    • Germany Base Power AUG 24 down 0.5% at 75.41 EUR/MWh
    • EUA DEC 24 up 0.8% at 70.66 EUR/MT
    • TTF Gas AUG 24 up 0% at 33.25 EUR/MWh
    • Rotterdam Coal AUG 24 down 0.9% at 108.5 USD/MT
  • TTF front month is trading stable on the day, as warm weather across Europe and is weighed against relatively stable supplies, high stock levels and easing supply risks.
  • The EU ETS Dec 24 is trading higher today tracking a weekly net increase. While latest European manufacturing data came in weaker than expected for May, industrial energy production increased month on month in May.
  • The latest weekly German EUA CAP3 auction cleared higher at €68.68/ton CO2e, up from €65.01/ton CO2e in the previous auction according to EEX.
  • European thermal coal imports declined by 60% year on year to 10.5mn tons in the first half of this year, Kpler vessel-tracking data showed.
  • Monthly volumes on EEX Group’s global power markets rose by 17% on the year in June to 893.6TWh, supported by increases in French, Belgian and CSEE power futures, the exchange said.
  • Firms Corre Energy and SemperPower have formed a JV to build out a 320MW battery storage facility in the Netherlands, with operations to begin in 2026, Corre said.
  • Association Solar Energy UK anticipates Labour’s electoral victory to further accelerate the deployment of solar and energy storage in the country, it said
  • Spain has authorised 9.482GW of new renewable projects in the first half of this year, with solar PV accounting for 7.109GW and wind for 2.373GW, a Foro Sella Renewable Energy Observatory report showed.
  • Vattenfall has extended the outage at its 1.08GW Ringhals unit 3 by five days to 18 July.
  • Better Energy has signed a 10-year PPA to supply renewable power to waste management company Marius Pedersen, the firm said.
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