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French prompt power prices drop on improved nuclear; Nov drops further

Increase font size  Decrease font size Date:2014-10-15   Views:419
French prompt power prices eased Tuesday on the back of improved nuclear production with another reactor expected to return to the grid Wednesday, while November contracts continued their downward trend on the back of a mild weather outlook, according to sources.

Baseload power for day-ahead delivery was last heard OTC Eur1.65 lower at Eur43.90/MWh, while peakload fell 75 euro cent to Eur52.50/MWh.

Epex Spot settled Wednesday just above OTC at Eur43.99/MWh baseload and Eur52.63/MWh peakload.

Actual nuclear output peaked at 45.7 GW Tuesday morning, up 1.7 GW from Monday's output peak, data from grid operator RTE shows.
Nuclear availability Wednesday is set to rise to 48 GW as EDF's 1.3 GW Cattenom 3 reactor in northeast France, which suffered an unplanned outage Sunday, is set to come back online, according to RTE's latest forecast.

Wind power in France is expected to remain below 1 GW Wednesday ahead of a possible surge later this week after peaking above 4 GW on Monday, according to RTE data.

In fossil-fueled generation, coal output peaked at 2.4 GW Tuesday morning, while the gas generation peak dropped to 1.8 GW, with hydro peak output little changed at 7.7 GW Tuesday morning, RTE's near real-time output data shows.

Power demand is expected to peak at 58.3 GW Wednesday at 7:30 pm local time, up from a 57.8 GW peak demand forecast for the same time Tuesday, according to RTE.

Temperatures are expected to remain firmly above seasonal norms over the next seven days, forecast to peak 6.4 degrees Celsius above the seasonal average on Sunday, easing pressure on demand, according to grid operator data.

On the curve, November base was heard trading as low at Eur48.30/MWh, down another Eur1.55 after already falling more than Eur2 in the previous session.

According to market sources, there are currently no signs of an early cold spell in the long-range weather outlook with more mild and windy weather expected for the remainder of October, a source said.
 
 
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