POWER: France October Power Extends Losses

French front-month power is extending this week’s losses with a weaker energy complex and EdF’s announcement of expectations of higher nuclear generation this year. The French-German October spread is currently trading at the highest since 26 August.

• France Base Power OCT 24 down 1.6% at 68.5 EUR/MWh
• EUA DEC 24 down 0.4% at 67.9 EUR/MT
• TTF Gas OCT 24 down 1.5% at 36.64 EUR/MWh
• Nuclear availability in France declined to 71% as of Wednesday morning, down from 73% on Tuesday, RTE data showed, cited by Bloomberg.
• Unplanned works at 880MW Bugey 4 have been extended by one day until 5 Sept. Planed works at 1.5GW Chooz 2 have been brought forward to 30 Sept, from 7 Oct preciously.
• The France-Italy PIOSSASCO-GRANDE-ILE 2 interconnector had an unplanned outage on Monday that is scheduled to return on 6 Sept 22:59 CET. There will be no flows in either direction.
• The latest 6-10 days ECMWF weather forecast for Paris suggests mean have been revised down at the front of the forecast to remain broadly in line with normal until 6 Sept, before rising above normal until 8 Aug, after which temperatures are forecast to fall below normal.
• Power demand in France is forecast to peak at 53.39GW on Wednesday and at 52.57GW on Thursday, Entso-E data showed.
• In France, wind output is forecast to rise slightly on the day to 2.22GW during base load on Thursday, up from 1.74GW forecast for Wednesday. Solar PV output is forecast to edge lower to 4.81GW during peak load, down from 4.99GW forecast for Wednesday according to SpotRenewables.