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POWER: French-German Day Ahead Rebound

POWER
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The German and French day-ahead baseload contracts moved up on the day, despite relatively high wind as German power demand was revised higher, while the extended outage at a French nuclear unit and slightly lower wind on the day supported, with the FR-DE discount widening.

  • The German day-ahead spot settled at €80.94/MWh from €59.04/MWh on the previous day.
  • The French day-ahead spot cleared at €54.60/MWh from €44.04/MWh on the previous day.
  • FR-DE discount was at €26.34/MWh from a €15.00/MWh discount in the previous session.
  • German wind is expected at 19.09GW, or a 30% load factor on 11 September and is expected to drop sharply to a 10% load factor, or 6.70GW the next day  – opening the door to the possibility of higher power prices on the day and widening the DE-FR spread.
  • German power demand on 11 September is expected at 56.3GW, up from 55.8GW forecasts for 10 September. Demand is then expected to remain unchanged on the day on 12 September before falling slightly on Friday.
  • In contrast, French power demand for 11 September has been revised down by around 300MW on the day to about 44.44GW and is expected to increase to 45.6-45.8GW over 12-13 September.
  • French wind forecast points to output at 6.43GW, or a 32% load factor on 11 September and will fall to a 22% load factor the next day.
  • French nuclear availability was unchanged on the day at 68% of capacity as of Tuesday morning, RTE data showed, cited by Bloomberg.
  • Edf has extended the outage at its 915MW Tricastin 2 reactor by 1 day to 11 September, latest remit data show.
  • The 1.31GW Golfech 2 is anticipated to return on 13 September 
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The German and French day-ahead baseload contracts moved up on the day, despite relatively high wind as German power demand was revised higher, while the extended outage at a French nuclear unit and slightly lower wind on the day supported, with the FR-DE discount widening.

  • The German day-ahead spot settled at €80.94/MWh from €59.04/MWh on the previous day.
  • The French day-ahead spot cleared at €54.60/MWh from €44.04/MWh on the previous day.
  • FR-DE discount was at €26.34/MWh from a €15.00/MWh discount in the previous session.
  • German wind is expected at 19.09GW, or a 30% load factor on 11 September and is expected to drop sharply to a 10% load factor, or 6.70GW the next day  – opening the door to the possibility of higher power prices on the day and widening the DE-FR spread.
  • German power demand on 11 September is expected at 56.3GW, up from 55.8GW forecasts for 10 September. Demand is then expected to remain unchanged on the day on 12 September before falling slightly on Friday.
  • In contrast, French power demand for 11 September has been revised down by around 300MW on the day to about 44.44GW and is expected to increase to 45.6-45.8GW over 12-13 September.
  • French wind forecast points to output at 6.43GW, or a 32% load factor on 11 September and will fall to a 22% load factor the next day.
  • French nuclear availability was unchanged on the day at 68% of capacity as of Tuesday morning, RTE data showed, cited by Bloomberg.
  • Edf has extended the outage at its 915MW Tricastin 2 reactor by 1 day to 11 September, latest remit data show.
  • The 1.31GW Golfech 2 is anticipated to return on 13 September