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POWER: End of Day Summary: FR-DE Oct Power Spread Widens

POWER
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The France-Germany October power spread has widened to €19.75/MWh today, up from €18.05/MWh on Friday as gains in natural gas prices limited losses in the German market, while rising hydro stocks and milder weather weighed on the French contract. Nordic October power extended gains in the afternoon with a cooler, drier outlook and the Loviisa 1 nuclear extension. 

  • Nordic Base Power OCT 24 up 9.9% at 32.2 EUR/MWh
  • France Base Power OCT 24 down 6.4% at 58.5 EUR/MWh
  • Germany Base Power NOV 24 down 1.7% at 89.3 EUR/MWh
  • EUA DEC 24 down 1.3% at 65.5 EUR/MT
  • TTF Gas NOV 24 up 1% at 38.97 EUR/MWh
  • Front month TTF has been holding onto gains today driven by supply risks amid rising Middle East tensions.
  • EU ETS Dec24 remained in negative territory today amid weaker economic sentiment out of Germany and the expiry of the 2023 compliance deadline, shrugging off small gains in natural gas.
  • Volvo Car and 50 other firms are urging the European Union to stick to its plan to stop new combustion-engine vehicle sales from 2035 to create certainty for the sector.
  • More countries are in support of a global levy on shipping emissions, following an IMO working group meeting last week to discuss the matter.
  • French hydropower reserves last week – calendar week 39 – increased by 0.82 percentage points to 86% of capacity, widening the surplus to the five-year average to the highest level so far this year.
  • EdF announced last week that production might be curtailed for 24h starting 30 September 21:00 CET due to industrial action.
  • Uniper is decommissioning the 875MW Heyden 4 coal-fired plant in Petershagen, North Rhine-Westphalia, on Monday.
  • Uniper’s 2.2GW Ratcliffe-on Soar coal-fired plant – the last remaining unit in the UK – will be decommissioned on Monday.
  • Planned maintenance at Fortum’s 507MW Loviisa Block 1 nuclear reactor in Finland has been extended by two days until 5 October 16:00 BST, remit data showed.
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The France-Germany October power spread has widened to €19.75/MWh today, up from €18.05/MWh on Friday as gains in natural gas prices limited losses in the German market, while rising hydro stocks and milder weather weighed on the French contract. Nordic October power extended gains in the afternoon with a cooler, drier outlook and the Loviisa 1 nuclear extension. 

  • Nordic Base Power OCT 24 up 9.9% at 32.2 EUR/MWh
  • France Base Power OCT 24 down 6.4% at 58.5 EUR/MWh
  • Germany Base Power NOV 24 down 1.7% at 89.3 EUR/MWh
  • EUA DEC 24 down 1.3% at 65.5 EUR/MT
  • TTF Gas NOV 24 up 1% at 38.97 EUR/MWh
  • Front month TTF has been holding onto gains today driven by supply risks amid rising Middle East tensions.
  • EU ETS Dec24 remained in negative territory today amid weaker economic sentiment out of Germany and the expiry of the 2023 compliance deadline, shrugging off small gains in natural gas.
  • Volvo Car and 50 other firms are urging the European Union to stick to its plan to stop new combustion-engine vehicle sales from 2035 to create certainty for the sector.
  • More countries are in support of a global levy on shipping emissions, following an IMO working group meeting last week to discuss the matter.
  • French hydropower reserves last week – calendar week 39 – increased by 0.82 percentage points to 86% of capacity, widening the surplus to the five-year average to the highest level so far this year.
  • EdF announced last week that production might be curtailed for 24h starting 30 September 21:00 CET due to industrial action.
  • Uniper is decommissioning the 875MW Heyden 4 coal-fired plant in Petershagen, North Rhine-Westphalia, on Monday.
  • Uniper’s 2.2GW Ratcliffe-on Soar coal-fired plant – the last remaining unit in the UK – will be decommissioned on Monday.
  • Planned maintenance at Fortum’s 507MW Loviisa Block 1 nuclear reactor in Finland has been extended by two days until 5 October 16:00 BST, remit data showed.