Spot down as looming public holiday curbs demand
FRANKFURT, Oct 31 (Reuters) -European prompt power prices on Thursday fell ahead of the All Saints holiday in parts of the region on Nov. 1, which added to expectations of weaker demand ahead of the weekend.
Supply of wind and solar electricity was set to increase, while nuclear availability was flat, data from LSEG and utility EDF showed.
French baseload power for Friday delivery TRFRBD1 dropped by 30.2% to 63.5 euros ($68.95)/MWh by 0820 GMT.
German day-ahead baseload TRDEBD1 was 40.1% down at 61.3 euros/MWh.
Power consumption in Germany was forecast to fall by 7.3 gigawatts (GW) to 48.8 GW on Friday, as the public holiday led to closures in industrial southern and western states that account for the bulk of energy demand.
French power demand was expected to go down to 53 GW from 45.6 GW in the same period, where the holiday is nationwide.
On the supply side, German wind power output is projected to double to rise to 21.9 GW from 16 GW day-on-day.
Solar production in Germany and France combined will likely gain 2 GW on Friday to total 6.9 GW.
French nuclear availability was unchanged at 78% of total capacity. POWER/FR
German year-ahead power TRDEBYZ5 was down 0.9% at 87.3 euros/MWh, while the French 2025 baseload contract TRFRBYZ5 was at 70.6 euros, down 1.1%.
European CO2 allowances for December 2024 CFI2Zc1 shed 0.3% at 65.29 euros per metric ton.
As the earnings season continued, Swedish utility Vattenfall reported a third-quarter net profit of 2.1 billion Swedish crowns compared with a loss of 2.61 billion crowns a year earlier.
Vattenfall, which has sizeable activities in Germany and other countries outside its Swedish base, cited higher prices and increased power generation.
($1 = 0.9210 euros)
Reporting by Vera Eckert, editing by Barbara Lewis
Eng oxirgi yangiliklar
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