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POWER: France Cal 2025 Power Underpriced: BNP

POWER
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French cal25 power futures are currently underpriced as markets have not yet priced in higher exports and a recovery in power demand, BNP said in a note, cited by Bloomberg. 

  • BNP estimates the contract should be 10% above its current value as industrial demand is expected to recover next year, while ongoing export restrictions on France’s eastern borders will be removed later in October.
  • France Power Cal 25 up 1.77% at 69.5 EUR/MWh
  • Germany cal25 power is underpriced by 1%, the bank added.
  • Germany Power Cal 25 up 1.2% at 84.91 EUR/MWh
     
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French cal25 power futures are currently underpriced as markets have not yet priced in higher exports and a recovery in power demand, BNP said in a note, cited by Bloomberg. 

  • BNP estimates the contract should be 10% above its current value as industrial demand is expected to recover next year, while ongoing export restrictions on France’s eastern borders will be removed later in October.
  • France Power Cal 25 up 1.77% at 69.5 EUR/MWh
  • Germany cal25 power is underpriced by 1%, the bank added.
  • Germany Power Cal 25 up 1.2% at 84.91 EUR/MWh