POWER: End of Day Power Summary: Germany, France Retreat

German and French front-month power products have retreated from their midday highs as price increases in European gas have cooled down, while carbon allowances are trading in red amid the anticipation of an rise in auction volumes next month.

• France Base Power SEP 24 down 0.9% at 71.5 EUR/MWh
• Germany Base Power SEP 24 down 0.2% at 90.5 EUR/MWh
• EUA DEC 24 down 1.2% at 70.23 EUR/MT
• TTF Gas OCT 24 up 1.6% at 39.475 EUR/MWh
• Rotterdam Coal SEP 24 up 1.1% at 120.6 USD/MT
• Front-month TTF retreated from a high of $40.325/MWh but is still poised for a weekly gain, supported by a two-day extension of Nyhamna and Kollsnes maintenance. from 4-8 Sep.
• EU ETS Dec24 has also extended losses from the midday as gas prices have given back some of their gains, while The latest weekly German EUA CAP3 auction cleared at €70.07/t CO2e, down from €70.73/ t CO2e – possibly weighing down.
• European EU ETS price could range around €70/t CO2e level next week amid a subsequent rise in auction supply from September.
• The UK plans to offer as much as £5.5 billion to develop the proposed 3.2GW Sizewell-c nuclear power plant
• The unexpected 534MW curtailment at Poland’s 2.2GW Kozienice 2 owing to works at unit 10 has been extended to 4 September from 31 August
• The 658MW unplanned curtailment of the Finnish-Estonian power link has been brought forward to 6 September from 12 September, latest Remit data show.
• Poland has submitted its draft amendment to implement CBAM measures for consultation, with the mechanism expected to be applied from 1 January 2026