POWER: End of Day Power Summary: FR-DE Week-Ahead Discount Widens

The French-German week-ahead power spread is widening today, amid stronger French wind forecasts anticipated early next week compared to Germany, with nuclear availability anticipated to increase in France adding additional downward pressure.

• France Base Power OCT 24 down 6% at 65.29 EUR/MWh
• Germany Base Power OCT 24 down 5.2% at 79.95 EUR/MWh
• EUA DEC 24 down 2.6% at 64.77 EUR/MT
• TTF Gas OCT 24 down 5.5% at 35.265 EUR/MWh
• Rotterdam Coal OCT 24 down 1.9% at 113 USD/MT
• TTF continues its decline, nearing last week's lows and breaking through the first two support levels, as the market lowers the risk to US LNG exports with Tropical Storm Francine tracking eastward.
• EU ETS Dec 24 is tracking price falls in TTF, while the latest EU ETS CAP3 EU auction cleared slightly higher at €65.83/ton CO2e, up from €65.75/ton CO2e in the previous auction.
• French wind is expected to range between 21-36% load factors over 16-19 Sept (Mon-Thu) compared to German wind at 7-15% load factors over the same period.
• Edf’s 1.33GW Flamanville 1 reactor is anticipated to return on 17 September.
• German lobby group BDI called for an additional investment of €410bn in the energy sector between now and 2030 in order to transform the German industry.
• German trade union IG Metall and Siemens Energy are asking for the German government to adopt corporate strategies and alter purchasing policies in the wind sector to protect them from Chinese competition.
• Nuclear operator Cez plans to select a partner for the development of small modular reactors by the end of 2024.
• The average Nordic system-wide price for September is below the Nordic September close of €22.20/MWh on 30 August amid strong onshore wind in Norway and higher hydro stocks.