Projected drop in wind power supply lifts spot prices
PARIS, Oct 1 (Reuters) -European spot power prices continued to rally on Tuesday, with wind power supply expected to fall further throughout the region on Wednesday.
German day-ahead baseload power TRDEBD1 rose 39.8% to 97.50 euros ($108.23) per megawatt hour (MWh) by 0818 GMT, LSEG data showed.
The equivalent French contract TRFRBD1 added 42.9% to 85 euros/MWh.
An increase in residual load in Germany, mainly because of lower wind power output, makes Germany a net importer during the day, said LSEG analyst Naser Hashemi.
Residual load is also higher in the Netherlans and France, but both are expected to remain net exporters, he added.
German wind power output is projected to slide by 9.9 gigawatts (GW) to 15.9 GW while French supply is expected to fall by 1.9 GW to 3.9 GW, the data showed.
Supply from German solar panels is expected to shed 1.2 GW to 5.3 GW on Wednesday, LSEG data shows.
French nuclear availability rose by two percentage points to 72% of total capacity. POWER/FR
The effect of the strike at French operator EDF was minimal, with no production losses recorded in the morning at the company's nuclear or hydropower plants.
Power consumption in Germany is forecast to dip by 530 megawatts (MW) to 56.6 GW on Wednesday while French demand is expected to add 690 MW to 46 GW, LSEG data shows.
German year-ahead power TRDEBYZ5 was down 1.2% at 85.85 euros/MWh while the French 2025 baseload contract TRFRBYZ5 was untraded after closing at 71.65 euros/MWh on Monday.
European CO2 allowances for December 2024 CFI2Zc1 fell 1.9% to 64.30 euros a metric ton.
Despite the increases on the gas market, the European carbon market fell for a second straight day on Monday, Energi Danmark analysts said in an online note.
($1 = 0.9009 euros)
Reporting by Forrest Crellin
Editing by David Goodman
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