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POWER: Germany- French Day Ahead Rise, FR Discount Remains Tight

POWER
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French and German day-ahead prices both rose, with lower wind generation and higher demand in Germany driving stronger gains compared to France. In contrast, high nuclear availability in France helped keep domestic price increases more moderate despite a rise in power consumption, resulting in France trading at a discount, though still relatively tight. French wind generation is expected to increase significantly on 22 Nov, potentially widening the FR-DE price spread.

  • The German day-ahead spot settled at €123.32/MWh from €115.03/MWh on the previous day.
  • The French day-ahead spot cleared at €113.50/MWh from €112.43/MWh on the previous day.
  • France was at a €9.82/MWh discount from €2.60/MWh in the previous session.
  • Wind output in Germany is forecast to fall on the day to 21.36GW on Thursday from 23.27GW on Wednesday. Wind will slightly rise on 22 Nov to 24.06GW – which may add some weight to delivery costs from the previous session.
  • Power demand in Germany is forecast to remain firm on the day 62.19GW on Thursday from 62.14GW on Wednesday, according to Bloomberg. Demand will then be at 61.26GW on 22 Nov.
  • In contrast, wind output in France is forecast to also edge down on the day at 5.45GW, or 27% load factor on Thursday from 5.75GW, or a 29% load factor on Wednesday. Wind will then be at 7.33GW the next day – which could weigh on power prices.
  • French power demand is expected to rise sharply on the day tomorrow to be at 64.13GW compared to 60.63GW estimated for today. Demand will then be at 66.65GW the next day – which may further support spot prices.
  • French nuclear availability was at 84% of capacity as of Wednesday morning, up from 82% on Tuesday, RTE data showed, cited by Bloomberg.
  • The 1.31GW Nogent 2 is expected to return to the grid on 26 Nov.
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French and German day-ahead prices both rose, with lower wind generation and higher demand in Germany driving stronger gains compared to France. In contrast, high nuclear availability in France helped keep domestic price increases more moderate despite a rise in power consumption, resulting in France trading at a discount, though still relatively tight. French wind generation is expected to increase significantly on 22 Nov, potentially widening the FR-DE price spread.

  • The German day-ahead spot settled at €123.32/MWh from €115.03/MWh on the previous day.
  • The French day-ahead spot cleared at €113.50/MWh from €112.43/MWh on the previous day.
  • France was at a €9.82/MWh discount from €2.60/MWh in the previous session.
  • Wind output in Germany is forecast to fall on the day to 21.36GW on Thursday from 23.27GW on Wednesday. Wind will slightly rise on 22 Nov to 24.06GW – which may add some weight to delivery costs from the previous session.
  • Power demand in Germany is forecast to remain firm on the day 62.19GW on Thursday from 62.14GW on Wednesday, according to Bloomberg. Demand will then be at 61.26GW on 22 Nov.
  • In contrast, wind output in France is forecast to also edge down on the day at 5.45GW, or 27% load factor on Thursday from 5.75GW, or a 29% load factor on Wednesday. Wind will then be at 7.33GW the next day – which could weigh on power prices.
  • French power demand is expected to rise sharply on the day tomorrow to be at 64.13GW compared to 60.63GW estimated for today. Demand will then be at 66.65GW the next day – which may further support spot prices.
  • French nuclear availability was at 84% of capacity as of Wednesday morning, up from 82% on Tuesday, RTE data showed, cited by Bloomberg.
  • The 1.31GW Nogent 2 is expected to return to the grid on 26 Nov.