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POWER: French, German Day Ahead Drops On Day, But Higher on Week

POWER
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The German and French day-ahead base-load contracts dropped on the day as lower power demand over the weekend weighed, however, delivery costs were higher on the week amid lower wind forecasts compared to thesame day last week.

  • The German day-ahead spot settled at €85.93/MWh from €96.13/MWh in the previous day. But higher compared to €58.35/MWh for delivery on 28 Sept (also a Saturday)
  • The French day-ahead spot cleared at €64.20/MWh from €88.42/MWh in the previous day. But also, sharply higher than the clearing price of €24.55/MWh for 28 Sept.
  • No negative hourly power prices were recorded in both countries for any delivery hours.
  • German wind output is forecast between 3.20GW on Saturday (5 Oct), sharply down compared to 22.85GW that was forecast for 28 Sept (Sat last week). Wind is expected at 14.68GW on 7 Oct – which could limit gains made from a rise in demand.
  • German power demand is forecast to average between 42.8-44.9GW over 5-6 Oct, down from 51.3GW forecast for today. Demand will then increase to around 53-55GW over 7-8 Oct.
  • In contrast, French wind output is forecast at an 18% load factor, or 3.65GW for 5 Oct (Sat) before rising to a 33% load factor on Sunday and remaining at around this level over 7-8 Oct.
  • Nuclear availability in France was at 68% as of Friday morning, down from 71% on Thursday, RTE data showed, cited by Bloomberg.
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The German and French day-ahead base-load contracts dropped on the day as lower power demand over the weekend weighed, however, delivery costs were higher on the week amid lower wind forecasts compared to thesame day last week.

  • The German day-ahead spot settled at €85.93/MWh from €96.13/MWh in the previous day. But higher compared to €58.35/MWh for delivery on 28 Sept (also a Saturday)
  • The French day-ahead spot cleared at €64.20/MWh from €88.42/MWh in the previous day. But also, sharply higher than the clearing price of €24.55/MWh for 28 Sept.
  • No negative hourly power prices were recorded in both countries for any delivery hours.
  • German wind output is forecast between 3.20GW on Saturday (5 Oct), sharply down compared to 22.85GW that was forecast for 28 Sept (Sat last week). Wind is expected at 14.68GW on 7 Oct – which could limit gains made from a rise in demand.
  • German power demand is forecast to average between 42.8-44.9GW over 5-6 Oct, down from 51.3GW forecast for today. Demand will then increase to around 53-55GW over 7-8 Oct.
  • In contrast, French wind output is forecast at an 18% load factor, or 3.65GW for 5 Oct (Sat) before rising to a 33% load factor on Sunday and remaining at around this level over 7-8 Oct.
  • Nuclear availability in France was at 68% as of Friday morning, down from 71% on Thursday, RTE data showed, cited by Bloomberg.