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Power Summary at European Close: CWE Power Moves in Mixed Directions

POWER
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The French front-month power contract has remained in negative territory towards the end of Friday’s sessions, resisting slight price increases in TTF and emissions prices, amid high nuclear availability and warm weather forecasts. But Germany is up, although struggling to find some direction, to track mixed movements in the energy complex.

  • France Base Pwr M1 down 3.87% at €37/MWh- the contract is slightly up from its intra-day low of €36.05/MWh.
  • Germany Base Pwr M1 up 0.76% at €66.45/MWh.
  • TTF Gas M1 up 1.58% at €30.725/MWh.
  • Rotterdam Coal M1 down 2% at $109.25/t.
  • EUA DEC 24 up 0.49% at €70.44/t CO2e.
  • French nuclear generation stood at 40.546GW as of this morning 8:30 CET, up from the five-day moving average of 40.142GW, RTE data showed.
  • The 1.33GW Paluel 3 and 905MW Chinon 1 nuclear plants will return on 17 May, according to Bloomberg.
  • French utility EdF will reduce the 915MW St. Laurent 2 nuclear reactor output on 17 May – brought forward from 21 May. The unit will run at 120MW of capacity until 21 May, according to Bloomberg.
  • Power demand in France could also be lower on the month as average temperatures in Paris are anticipated to rise from May – reaching as high as ~ 18C in June.
  • France’s nuclear watchdog ASN in its latest review found areas of improvement on the country’s nuclear safety.
  • Germany continues to drag on the purchase of a part of TSO Tennet after the chancellery took over the negotiation and the finance ministry delayed it, sources told Bloomberg.
  • Poland Q3 2024 Baseload power at PLN400/MWh – its last traded price – compared to its settled price of PLN404.99/MWh on 16 May.
  • The Italian Ministry of Environment and Energy Security (MASE) has approved operating rules for agrivoltaic solar farms, the ministry said today.
  • Spanish utility Naturgy Energy Group has started to build a 300MW PV project in Spain, with operations to begin in 2026, according to the firm.
  • Spanish firm Avintia Energia and Italian company Plenitude have agreed to build 850MW of PV capacity in Spain, with the possibility of installing 1GW, according to PV magazine.
  • European power purchased agreements closed 0.93% higher on 16 May amid PPA prices in major EU PPA markets rising, with solar and wind PPA values also up, according to latest data from energy pricing firm Pexapark.
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The French front-month power contract has remained in negative territory towards the end of Friday’s sessions, resisting slight price increases in TTF and emissions prices, amid high nuclear availability and warm weather forecasts. But Germany is up, although struggling to find some direction, to track mixed movements in the energy complex.

  • France Base Pwr M1 down 3.87% at €37/MWh- the contract is slightly up from its intra-day low of €36.05/MWh.
  • Germany Base Pwr M1 up 0.76% at €66.45/MWh.
  • TTF Gas M1 up 1.58% at €30.725/MWh.
  • Rotterdam Coal M1 down 2% at $109.25/t.
  • EUA DEC 24 up 0.49% at €70.44/t CO2e.
  • French nuclear generation stood at 40.546GW as of this morning 8:30 CET, up from the five-day moving average of 40.142GW, RTE data showed.
  • The 1.33GW Paluel 3 and 905MW Chinon 1 nuclear plants will return on 17 May, according to Bloomberg.
  • French utility EdF will reduce the 915MW St. Laurent 2 nuclear reactor output on 17 May – brought forward from 21 May. The unit will run at 120MW of capacity until 21 May, according to Bloomberg.
  • Power demand in France could also be lower on the month as average temperatures in Paris are anticipated to rise from May – reaching as high as ~ 18C in June.
  • France’s nuclear watchdog ASN in its latest review found areas of improvement on the country’s nuclear safety.
  • Germany continues to drag on the purchase of a part of TSO Tennet after the chancellery took over the negotiation and the finance ministry delayed it, sources told Bloomberg.
  • Poland Q3 2024 Baseload power at PLN400/MWh – its last traded price – compared to its settled price of PLN404.99/MWh on 16 May.
  • The Italian Ministry of Environment and Energy Security (MASE) has approved operating rules for agrivoltaic solar farms, the ministry said today.
  • Spanish utility Naturgy Energy Group has started to build a 300MW PV project in Spain, with operations to begin in 2026, according to the firm.
  • Spanish firm Avintia Energia and Italian company Plenitude have agreed to build 850MW of PV capacity in Spain, with the possibility of installing 1GW, according to PV magazine.
  • European power purchased agreements closed 0.93% higher on 16 May amid PPA prices in major EU PPA markets rising, with solar and wind PPA values also up, according to latest data from energy pricing firm Pexapark.