German wind supply seen plummeting on Monday
PARIS, Aug 23 (Reuters) -European electricity prices for Monday were untraded on Friday, with German wind supply expected to fall by nearly 70% while solar production in the country is also down.
There were no trades for German and French Monday baseload power prices at 1042 GMT, with the German contract holding a bid price of 95 euros ($105.61) per megawatt-hour (MWh), LSEG data showed. TRDEBD3TRFRBD3
Although demand is down in Germany on Monday, residual load is increased on a much lower wind supply, said LSEG analyst Naser Hashemi.
German wind power output is forecast to plummet 18.2 GW from Friday to 8.4 GW on Monday while French output is expected to fall 5 GW to 2.2 GW, LSEG data shows.
German solar power supply is forecast to fall 2.2 GW to 11.9 GW on Monday.
LSEG analysis showed wind power supply is forecast to fall to just under 8 GW on Tuesday before rebounding Wednesday to around 11 GW.
French nuclear availability was unchanged at 71% of available capacity. POWER/FR
Power consumption in Germany is forecast to drop 670 megawatts (MW) to 52.3 GW on Monday, while demand in France is projected to stay mostly flat at 41 GW.
German 2025 baseload TRDEBYZ5 fell 0.2% to 95.09 euros/MWh, while the equivalent French position TRFRBYZ5 had a bid price of 79.90 euros.
European CO2 allowances for December 2024 expiry CFI2Zc1 shed 0.8% to 70.98 euros a metric ton.
($1 = 0.8995 euros)
Reporting by Forrest Crellin; Editing by Tomasz Janowski
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