Falling German wind supply lifts spot prices
PARIS, Oct 22 (Reuters) -European spot power prices for Wednesday rose on Tuesday as wind supply was expected to drop in Germany, while French demand is expected to increase on falling temperatures.
German day-ahead baseload power TRDEBD1 was up 16.3% to 114 euros ($123.51) per megawatt hour (MWh) at 0817 GMT, LSEG data showed.
The equivalent French contract TRFRBD1 added 9% to 91 euros/MWh.
"The bullish signal continues, as both temperature and wind power supplies keep dropping on the continent," said LSEG analyst Riccardo Parviero.
Residual load is expected to increase significantly in the Netherlands and Belgium, he added.
German wind power output is projected to fall by 6.2 gigawatts (GW) to 7.3 GW while French supply is expected to edge up 560 megawatts (MW) to 2.6 GW, LSEG data showed.
Solar supply in Germany is expected to rise by 850 MW to 5.7 GW, the data showed.
French nuclear availability was unchanged at 73% of total capacity. POWER/FR
France's EDF posted a notice for a strike call at its facilities starting Wednesday evening and going through Thursday. The last strike had no effect on production.
Power consumption in Germany is forecast to stay flat at 57.7 GW on Wednesday while French demand is expected to increase 700 MW to 47.4 GW as average temperatures in the country are expected to drop 1.1 degrees Celsius to 13.1 C, LSEG data showed.
German year-ahead power TRDEBYZ5 was up 0.2% at 85.80 euros/MWh while the French 2025 baseload contract TRFRBYZ5 fell 0.7% to 72 euros/MWh.
European CO2 allowances for December 2024 CFI2Zc1 fell 0.2% to 61.66 euros per metric ton.
At current levels, carbon prices are not sufficient to incentivise fuel switching to gas, with coal remaining competitive as a generation source, said Veyt analyst Henry Lush.
($1 = 0.9230 euros)
Reporting by Forrest Crellin; Editing by Mark Potter
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