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Mid-Day Power Summary: France-German June Discount at Monthly High

POWER
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The French power curve has further decreased throughout the morning as TTF, and emissions have given back some gains seen earlier in the trading session. But Germany has remained in positive territory, with the French-German June discount widening to the highest in May.

  • France Base Pwr JUN 24 down 11.4% at 36 EUR/MWh
  • Germany Base Pwr JUN 24 up 1.1% at 76.16 EUR/MWh
  • TTF Gas JUN 24 up 1.3% at 34.555 EUR/MWh
  • EUA DEC 24 up 0.8% at 76.19 EUR/MT
  • The French M1 power base load contract has widened its premium to the German equivalent to the highest in May at €40.16/MWh compared to €34.69/MWh on 24 May.
  • High nuclear availability in France has placed downward pressure on the June contract, with about 3.71GW of nuclear capacity anticipated to come back online over 10-13 June, latest Remit data show.
  • German energy firm RWE will build two new offshore wind farms, with a combined capacity of 1.56GW, off the German coast in the North Sea, the firm said today.
  • German renewable developer MLK Gruppe has started construction of 73MW PV project in central Germany, with the unit to start operations by the end of this year, according to the firm.
  • French day-ahead price decreased sharply on the day as wind forecasts point to steady wind output on Tuesday – with prices lowest in the EU region again – with high French nuclear availability adding additional downward pressure.
  • Ukraine intends to increase the amount of power imports from EU countries for some hours on Monday, after recent Russian missile attacks have damaged its power infrastructure, according to Ukrainian TSO Ukrenergo, cited by XM.
  • Norwegian petroleum company Equinor has called for the Norwegian government to tax oil & gas to fund offshore wind projects and reach its climate goals, according to Danish DN, cited by Renews.Biz.
  • The December 2024 EU ETS price is trading higher on the day, having reached a yearly high so far this year in the early morning, amid price increases in gas and forecast for low wind, supporting baseload fossil-fired generation in some EU states.
  • Polish hard coal production decreased by 1.2% on the year in April, while lignite production increased by 5% year-on-year, according to the Polish statistical office GUS, cited by ISB news.

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The French power curve has further decreased throughout the morning as TTF, and emissions have given back some gains seen earlier in the trading session. But Germany has remained in positive territory, with the French-German June discount widening to the highest in May.

  • France Base Pwr JUN 24 down 11.4% at 36 EUR/MWh
  • Germany Base Pwr JUN 24 up 1.1% at 76.16 EUR/MWh
  • TTF Gas JUN 24 up 1.3% at 34.555 EUR/MWh
  • EUA DEC 24 up 0.8% at 76.19 EUR/MT
  • The French M1 power base load contract has widened its premium to the German equivalent to the highest in May at €40.16/MWh compared to €34.69/MWh on 24 May.
  • High nuclear availability in France has placed downward pressure on the June contract, with about 3.71GW of nuclear capacity anticipated to come back online over 10-13 June, latest Remit data show.
  • German energy firm RWE will build two new offshore wind farms, with a combined capacity of 1.56GW, off the German coast in the North Sea, the firm said today.
  • German renewable developer MLK Gruppe has started construction of 73MW PV project in central Germany, with the unit to start operations by the end of this year, according to the firm.
  • French day-ahead price decreased sharply on the day as wind forecasts point to steady wind output on Tuesday – with prices lowest in the EU region again – with high French nuclear availability adding additional downward pressure.
  • Ukraine intends to increase the amount of power imports from EU countries for some hours on Monday, after recent Russian missile attacks have damaged its power infrastructure, according to Ukrainian TSO Ukrenergo, cited by XM.
  • Norwegian petroleum company Equinor has called for the Norwegian government to tax oil & gas to fund offshore wind projects and reach its climate goals, according to Danish DN, cited by Renews.Biz.
  • The December 2024 EU ETS price is trading higher on the day, having reached a yearly high so far this year in the early morning, amid price increases in gas and forecast for low wind, supporting baseload fossil-fired generation in some EU states.
  • Polish hard coal production decreased by 1.2% on the year in April, while lignite production increased by 5% year-on-year, according to the Polish statistical office GUS, cited by ISB news.