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POWER: EU Mid-Day Power Summary: FR-DE Oct Discount Widens to Sept High

POWER
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The French-German October discount is widening to its highest this month at €-19.41/MWh, with both markets weighed down by strong wind forecasts, while losses are sharper for France amid higher hydro balance and firm nuclear. However, price increases in TTF and emissions could limit further losses.

  • France Base Power OCT 24 down 4.4% at 55.4 EUR/MWh
  • Germany Base Power OCT 24 down 0.2% at 74.81 EUR/MWh
  • EUA DEC 24 up 0.6% at 63.76 EUR/MT
  • TTF Gas OCT 24 up 2% at 35.13 EUR/MWh
  • Rotterdam Coal OCT 24 up 0.3% at 112.65 USD/MT
  • TTF has held onto gains from the morning session, with optimism over Ukraine pipeline supplies, recovering Norway flows set against Middle East tensions, and colder temperatures ahead.
  • EU ETS Dec 24 is edging higher today with gains in EU gas and coal prices, while the latest EU ETS CAP3 EU auction cleared higher at €64/ton CO2e, compared with €63.56/ton CO2e in the previous session.
  • German Mercedes-Benz Group has also called for an easing of emission rules as the stagnation of the share of fully electric cars in the EU makes the CO2 targets for 2025 “hardly achievable.”
  • EdF will now halt its 915MW Cruas 4 reactor over 23-28 Sept.
  • The French southeast region of Cannes experienced heavy flooding early Monday morning.
  • Poland’s Neo Energy Group will install 1.5GW of domestic wind and solar capacity after having acquired the pipeline from developer ZKlaster.
  • Engie has entered into CPPA with Atlas Copco Airpower to supply power from its 325MW C-Power offshore wind farm in Belgium.
  • Greece has lowered its battery storage auction by 100MW to 200MW, with the auction completed by December 15.
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The French-German October discount is widening to its highest this month at €-19.41/MWh, with both markets weighed down by strong wind forecasts, while losses are sharper for France amid higher hydro balance and firm nuclear. However, price increases in TTF and emissions could limit further losses.

  • France Base Power OCT 24 down 4.4% at 55.4 EUR/MWh
  • Germany Base Power OCT 24 down 0.2% at 74.81 EUR/MWh
  • EUA DEC 24 up 0.6% at 63.76 EUR/MT
  • TTF Gas OCT 24 up 2% at 35.13 EUR/MWh
  • Rotterdam Coal OCT 24 up 0.3% at 112.65 USD/MT
  • TTF has held onto gains from the morning session, with optimism over Ukraine pipeline supplies, recovering Norway flows set against Middle East tensions, and colder temperatures ahead.
  • EU ETS Dec 24 is edging higher today with gains in EU gas and coal prices, while the latest EU ETS CAP3 EU auction cleared higher at €64/ton CO2e, compared with €63.56/ton CO2e in the previous session.
  • German Mercedes-Benz Group has also called for an easing of emission rules as the stagnation of the share of fully electric cars in the EU makes the CO2 targets for 2025 “hardly achievable.”
  • EdF will now halt its 915MW Cruas 4 reactor over 23-28 Sept.
  • The French southeast region of Cannes experienced heavy flooding early Monday morning.
  • Poland’s Neo Energy Group will install 1.5GW of domestic wind and solar capacity after having acquired the pipeline from developer ZKlaster.
  • Engie has entered into CPPA with Atlas Copco Airpower to supply power from its 325MW C-Power offshore wind farm in Belgium.
  • Greece has lowered its battery storage auction by 100MW to 200MW, with the auction completed by December 15.