October 24, 2024 09:38 GMT
POWER: Engie Advances Outright Power Hedges For 2024-26 at Lower Prices
POWER
Engie has advanced its outright power production hedges for its planned hydropower and nuclear generation in Belgium and France in Q3, with prices falling compared with the second quarter according to Engie’s 9M 2024 results.
- Engie had hedged 95% of its planned nuclear and hydropower generation in Belgium and France for 2024 at an average price of €106/MWh as of the end of September. This compares to 89% hedged at €110/MWh as of the end of Q2.
- For 2025, the utility hedged 52% of its planned output at an average price of €120/MWh as of the end of Q3. This is up from 45% hedged at €126/MWh as of the end of Q3.
- For 2026, Engie hedged 35% of its planned French output at an average price of €91/MWh. As of Q2, the firm hedged 31% of its planned generation at €96/MWh.
- Engie’s nuclear generation in France and Belgium stood at 24.1TWh in the first nine months of 2024, up from 23.6TWh a year earlier, with Belgian nuclear availability improving.
- The utility’s hydropower generation in France rose to 14TWh in Jan-Sept this year, up from 10.4TWh in the same period last year.
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