POWER: End of Day Power Summary: FR-DE Oct Discount Firm on Week

The average French-German Oct power discount is on track toremain firm on the week - widening to around -€15.86/MWh compared to €-15.02/MWh, with weekly losses slightly sharper for France than Germany as the TTF equivalent shed on the week, with emissions also weighing.

• France Base Power OCT 24 down 3.1% at 60.01 EUR/MWh
• Germany Base Power OCT 24 down 1% at 77.56 EUR/MWh
• EUA DEC 24 down 0.5% at 65.12 EUR/MT
• TTF Gas OCT 24 up 1.6% at 35.74 EUR/MWh
• EU ETS Dec 24 is ending in negative territory, after having flipped in the midday, while the latest weekly German EUA CAP3 auction cleared at €64.89/ton CO2e from €67/ton CO2e in the previous auction and the lowest level since mid-July – weighing.
• TTF Oct has remained higher on the day, albeit being rangebound, with weak demand and high storage levels easing supply concerns despite reduced pipeline flows to Europe ahead of winter and Egyptian LNG competition.
• The planned maintenance at Electrabel’s 1.03GW Doel 4 nuclear reactor in Belgium has been extended by 11 days until 23 October.
• New criteria under the European Net-Zero Industry Act may delay France's offshore wind expansion.
• Manufacturer Volvo Trucks has delayed building its electricity intensive 400MW battery plant in Sweden by 1-2 years.
• The Greek PM has sent a letter to the EC to create a bloc-wide regulator with powers to inspect energy markets across the EU due to soaring power prices in central and eastern Europe.
• Ignitis is still considering joining Lithuania’s second 700MW offshore wind tender held in November.
• The UK has approved £700mn of power transmission upgrades between Suffolk-Essex to resolve bottlenecks and deliver power more effectively.
• Apatura has been awarded planning permission for its 700MW battery storage plant in Scotland.