POWER: French Spot Power to Fall on Lower Renewables

The French October power base-load contract is extending Monday’s gains driven by forecasts for cooler weather, with some gains in the European energy complex. Spot power in France is likely to rise on the day as forecasts point to less renewables output and higher demand. 

• France Base Power OCT 24 up 0.2% at 69.65 EUR/MWh
• TTF Gas OCT 24 up 1% at 37.705 EUR/MWh
• Nuclear availability in France was stable on the day at 68% of capacity on Tuesday morning, RTE data showed, cited by Reuters.
• The 1.33GW Paluel 1 reactor is scheduled to restart 12:00 CET on Tuesday from an unplanned outage. The unplanned halt of 915MW Tricastin 2 has been extended by several hours to Tuesday 21:00 CET.
• Planned maintenance at 910MW Blayais 1 has been extended by one day until 11 September. 1.33GW Flamanville 1 works have been brought forward by seven days to 17 September.
• The latest 6-10 days ECMWF weather forecast for Paris suggested mean temperatures will remain below the seasonal normal throughout the forecast period, with temperatures nearing the 30-year normal at the end of the period.
• Power demand in France is forecast to reach a maximum of 50.73GW on Tuesday and of 51.35GW on Wednesday, Entso-E data showed.
• In France, wind output is forecast to decline to 6.44GW during base load on Wednesday, down from 7.03GW forecasted for Tuesday. Solar PV output is forecast to fall to 4.12GW during peakload on Wednesday, down from 7.12GW forecasted for Tuesday according to SpotRenewables.