French spot gains on lower wind outlook, Germany's falls on drop in usage
FRANKFURT, Sept 19 (Reuters) -French wholesale prompt electricity prices rose on Thursday on expectations for lower wind power output in the region while German prices fell along with easing demand.
LSEG analyst Francisco Gaspar Machado noted that thermal capacities will be shifted from German gas and French coal to French nuclear, Dutch gas and German coal and lignite.
German baseload power for Friday TRDEBD1 stood 2.6% lower at 0810 GMT, trading at 75.3 euros ($83.94) per megawatt hour (MWh).
French day-ahead baseload rose 13.6% from the previous close at 62.8 euros/MWh.TRFRBD1
German wind power output is expected to lose 800 megawatts (MW) on Friday to 18.3 gigawatts (GW), while French wind power output is expected to fall by 3.1 GW to 3.6 GW, LSEG data showed.
French nuclear availability was up six percentage points at 75% of total capacity. POWER/FR
On the demand side, usage in Germany is expected to fall by 1.3 GW to 54.1 GW on Friday, and that in France to ease by 300 MW to 42.2 GW.
Temperatures are forecast to fall by 0.4-0.9 degrees Celsius day-on-day and by 2.5-3.6 degrees on average next week, respectively, compared with Thursday levels.
Curve prices were tracking firmer global energy prices, which responded to a large interest rate cut from the U.S. Federal Reserve, which is expected to help stimulate economic activity.O/R
German year-ahead power TRDEBYZ5 added 1.1% to 87.0 euros/MWh. The French 2025 baseload contract TRFRBYZ5 gained 1.2% to reach 70.6 euros/MWh.
European CO2 allowances for December 2024 CFI2Zc1 were 0.9% higher at 64.3 euros a metric ton.
Germany's federal network agency is looking into whether power balancing markets could lend themselves to insider trading. The probe is not tied to a specific timeline.
($1 = 0.8971 euros)
Reporting by Vera Eckert, editing by Emelia Sithole-Matarise
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