Swedish Day-ahead climbs on Nuclear, French & German Diverge

Swedish day-ahead power prices rose on the day amid an unplanned outage in the SE3 bidding zone, which also supported day-ahead prices across the Nordics. The French and German day-ahead diverged amid higher wind forecasts in the latter country – this trend could change as renewables forecasts point to falling output in Germany

• The German Day-ahead settled at €61.63/MWh down from €92.65/MWh on 10 June.
• The French day-ahead cleared at €46.90/MWh for delivery on 11 June, up from €28.40/MWh in the previous session.
• The Nordic day-ahead cleared at €37.68/MWh for delivery on 11 June from €34.98/MWh in the previous session.
• The Swedish day-ahead rose in all four bidding zones between €33.62-62.92/MWh from €28.59-45.71/MWh. The highest prices were in the SE3 and SE4 areas.
• Swedish firm Vattenfall’s 1.17GW Forsmark unit 3 unexpectedly disconnected from the grid at 10:40CET today, with the unit anticipated to be back online on 11 June, although the exact duration is unknown, latest Remit data show.
• German wind output is expected at 18.99GW, or a 29% load factor on 11 June – weighing down power prices – but wind is then anticipated to fall between 6.41-10.47GW, or 10-16% load factors over 12-13 June, according to Spot Renewables.
• In comparison, French wind output is forecast at just a 13% load factor, or 2.62GW on 11 June, before being at 11-13% load factors or 2.1-2.5GW over 12-13 June.
• French Nuclear generation is at its lowest since 2 June, according to daily average data from RTE, cited by Bloomberg. Generation was 36.38GW at 8:30 a.m. CET vs 5-day mvg avg of 37.78GW:RTE
• Regionally, maximum temperatures in the Nordics are forecast between 17-23.5C over 11-19 June – limiting cooling demand and possibly weighing on prices.
• Max temps in Paris are anticipated between 16-22C over 1-19 June, with maximum temperatures in Berlin anticipated between 17-28.5C over the same period.