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POWER: Jao FR-DE Implied Spread Slightly Higher Than Current Market

POWER

 Allocated capacity in the French-German direction in the September CBC Jao auction almost halved on the month, with the Jao FR-DE auction price spread at €19.50/MWh compared to the current exchange spread of €18.95/MWh.

  • For September delivery in the France-German direction, all 185MW of offered capacity has been allocated at €22.08/MWh
  • This compares to August, when 319MW of 320MW of offered capacity sold at €25.50/MWh.
  • In the other direction, 415MW of offered capacity sold at €2.58/MWh compared to 414MW allocated at €1.60/MWh for August delivery.
  • Germany September power base load is currently trading at €90.60/MWh, holding a €18.95/MWh premium to the French market at the time of writing.

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