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EUROPE POWER-Prompt for Monday untraded, wind supply to increase

Reuters · 01/06/2023 06:34
EUROPE POWER-Prompt for Monday untraded, wind supply to increase

- European spot power prices for early week were untraded in the late morning session on Friday, while wind supply in Germany was forecast to gain, contrasting anticipated demand increases after the Epiphany holiday in parts of the region.

Refinitiv Eikon analysts said in a that apart from the higher expectations for wind, hard coal, brown coal and gas-burning generation availability would be strengthened by operators.

German wind power production is set to rise to 31.2 gigawatts (GW) on Monday, up from 24.3 GW on Friday.

French reactor availability edged up one percentage point to 73% of installed capacity. POWER/FR

German Monday baseload power TRDEBD3 had changed hands at 1045 GMT and the French Monday price TRFRBD3 was also untraded.

Power demand in Germany is expected to come in at 60.6 GW on Monday, compared with a low level of 56.6 GW on Friday owing to the holiday in southern states.

Consumption in France is seen up by 300 MW at 56.5 GW Monday compared with Friday.

Temperatures are expected to drop by 2.5 to 3 degrees Celsius week.

German Calendar Year 2024 baseload TRDEBYZ4 gained 4.1% at 204 euros/MWh $214.47).

The same French contract TRFRBYZ4 went up by 2.2% to 230.5 euros.

European CO2 allowances for December 2023 expiry CFI2Zc1 were oscillating barely changed around the closing level on Thursday of 78.83 euros a tonne.

Germany exported more electricity to its than it imported in 2022, data sets from various associations have shown.

The trend resulted from more weather-driven renewable power and greater demand from France even in the energy crisis at home, caused by the withdrawal of Russian export supplies of fossil fuels.

Germany's energy regulator is optimistic the country will face a gas shortage this winter, its chief said in a broadcast.

($1 = 0.9512 euros)

(Reporting by Vera Eckert; Editing by Andrew Heavens)

((vera.eckert@thomsonreuters.com; +49 30 2201 33654))