POWER: French September Rebounds to Weekly High

The French front month has risen from its previous close amid a downward revision of its domestic hydro balance, with nuclear works extended, however, EdF’s 1.33GW Paulel 1 reactor is now expected to return on 30 August from 31 August, latest Remit show.

• France Base Power SEP 24 up 1.9% at 73.5 EUR/MWh
• EUA DEC 24 down 0.2% at 70.94 EUR/MT
• TTF Gas OCT 24 down 0.02% at 38.85 EUR/MWh
• Frances's hydro balance has been revised down for all days over 29 August- 13 September, with the highest revision on 10-11 September at around 220GWh – to end at +2.79TWh on 13 September – weighing on hydro stocks.
• In France, nuclear availability was at 72% of capacity as of Friday morning, unchanged for the past two days, RTE data showed, cited by Bloomberg.
• EdF anticipates bringing back its 1.33GW Paulel 1 reactor on 30 August from originally bringing forward to 31 August from 2 September on Thursday,
• But it has extended works at its 910MW Gravelines 4 and Bugey 3 nuclear units by 3 and 10 days, respectively, with the units to return on 3-11 September.
• In France, wind output is forecast at a 10-15% load factors, or 2.02-3.04GW over the weekend,  with solar PV baseload output forecast at 3.07-3.54GW over the same period, according to SpotRenewables.
• The latest 6-10 days ECMWF weather forecast for Paris suggests max temperatures to be at 31C over 31 August-1 September before dropping to 27.5C the next day. Max temps are then seen reaching as high as 32.4C on 6 September – likely spurring cooling demand.