Latest News

Solar spot prices rise as forecasts are cloudy.

The European spot electricity prices rose on Tuesday, as the solar power supply is expected to decrease throughout the region.

LSEG data show that the German contract for day-ahead electricity rose by 13.1%, to 84.80 Euros ($96.76), while the French contract, which is equivalent, was up by 2.1%, at 24 Euros/MWh.

LSEG data indicated that on the supply side Germany expected wind output to increase by 2 gigawatts to 12.4 GW while French output was predicted to grow 840 megawatts to 4.5 GW.

The data revealed that the German solar power was expected to decline by 2.1 GW and reach 13.7 GW. In France, solar power would be expected to decrease by 1.4 GW and reach 3.4 GW.

LSEG data shows that the German demand for power is expected to increase by 500 MW on Wednesday to 53.7 GW. In France, it is forecast to rise 130 MW to 42 GW.

Marcus Eriksson, LSEG analyst, said that the residual load is expected to decrease for the first 8 hours, and then increase for the remainder of the day. The country will be a net exporter for the entire day.

The French nuclear capacity fell by two percentage points, to 69% total capacity, as the Chinon 3 Reactor went offline due to an unplanned shutdown.

Operator EDF reported that the Chinon 3 nuclear reactor was disconnected from the network Monday because of a problem with the electrical substation on the site.

The German baseload contract for the year ahead rose by 0.5%, to 87.50 Euros/MWh.

The French position for the year ahead fell by 0.1%, to 61.55 Euro/MWh.

The benchmark contract for the European carbon market in 2025 rose by 0.9%, to 71.60 Euros per metric ton.

Ingvild Sörhus, analyst at Veyt, says that carbon prices will likely continue to move sideways in the coming week. However there are early signs of a downward trend.

Experts on the market have stated that Britain will struggle in the next seven months to link its market with the EU to avoid UK firms facing annual bills of around 800 million pounds ($1.08billion) and the EU's border tariff for carbon. ($1 = 0.8764 euro) (Reporting and editing by David Evans; Forrest Crellin)

(source: Reuters)