POWER: EdF Raises 2024 Nuclear Output

The French front-month and front-quarter contracts are trading lower today with losses in the energy complex, while EdF has raised its expected nuclear output target for 2024, despite the confirmed delay of the new Flamanville reactor startup.

• France Base Power OCT 24 down 2.7% at 72.94 EUR/MWh
• France Power Qtr OCT 24 down 2.4% at 88.5 EUR/MWh
• EUA DEC 24 down 0.7% at 69.96 EUR/MT
• TTF Gas OCT 24 down 0.9% at 38.225 EUR/MWh
• EdF has raised France’s nuclear power generation forecast for this year to 340-360TWh, compared with 315-345TWh previously estimated, it said.
• EdF has delayed the startup of the new Flammanville 3 reactor before the end of autumn, from summer previously scheduled, it said on Monday.
• Nuclear availability rose to 73% of capacity on Tuesday morning, up 71% the day before, RTE data showed, cited by Reuters. 910MW Blayais 1 works have been extended by two days until 8 Sept. Works started 26 April.
• The PIOSSASCO-GRANDE-ILE 2 interconnector had an unplanned outage on Monday that is scheduled until 4 Sept 16:00 CET. There will be no flows in the Italy-France direction, while flows in the opposite direction have been reduced by 290MW to 1.765GW.
• The latest 6-10 days ECMWF weather forecast for Paris suggests mean temperatures have been revised higher at the start of the forecast period, to remain above or in-line with the average through the period.
• Power demand in France is forecast at a peak of 52.9GW on Tuesday and of 53.39GW on Wednesday, Entso-E data showed.