MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: France Nov Power Hits Contract Low

POWER
BulletPower BulletsEnergy BulletsCommodities

 France November power base load has fallen to a new contract low on Tuesday, weighed on by bearish fundamentals with a sluggish demand recovery, above-average hydropower stock levels, high nuclear availability and a recent pullback in the energy complex. 

  • France Base Power NOV 24 down 5.6% at 75 EUR/MWh
  • The French November power base-load contract fell to an intraday low of €75/MWh on Tuesday, breaking through the previous low of €75.16/MWh on 24 September.
  • French hydropower reserves last week increased by 0.82 percentage points to 86% of capacity, RTE data showed.
  • Stocks widened the surplus to the five-year average to 14.2 points last week, up from 13.15 points the week prior – and the highest surplus so far this year.
  • Last month, EdF has revised up France’s nuclear output estimates for this year to 340-360TWh, up from 315-345TWh previously estimated.
  • BNEF forecasts suggested French nuclear generation will reach 365TWh this year, above EdF’s estimated range.
  • Cumulative nuclear output stood at 234.6TWh at the end of August, up by 13.8% year on year according to EdF. 
170 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

 France November power base load has fallen to a new contract low on Tuesday, weighed on by bearish fundamentals with a sluggish demand recovery, above-average hydropower stock levels, high nuclear availability and a recent pullback in the energy complex. 

  • France Base Power NOV 24 down 5.6% at 75 EUR/MWh
  • The French November power base-load contract fell to an intraday low of €75/MWh on Tuesday, breaking through the previous low of €75.16/MWh on 24 September.
  • French hydropower reserves last week increased by 0.82 percentage points to 86% of capacity, RTE data showed.
  • Stocks widened the surplus to the five-year average to 14.2 points last week, up from 13.15 points the week prior – and the highest surplus so far this year.
  • Last month, EdF has revised up France’s nuclear output estimates for this year to 340-360TWh, up from 315-345TWh previously estimated.
  • BNEF forecasts suggested French nuclear generation will reach 365TWh this year, above EdF’s estimated range.
  • Cumulative nuclear output stood at 234.6TWh at the end of August, up by 13.8% year on year according to EdF.