Makes clear that technical problems were at Epex Spot, not Nord Pool, in paragraph 2
FRANKFURT, June 26 (Reuters) – Wholesale prompt power prices fell sharply in Germany on Wednesday on more supply but stronger demand drove prices higher in France, narrowing a discount to Germany, which remains in place.
The spot market saw some big pricesdivergence On Tuesday afternoon after technical problems at the Paris-based spot exchange Epex Spot delayed the publication of prices.
German day-ahead baseload TRDEBD1 was down 39.6% at 96 euros ($102.63) per megawatt hour (MWh) at 0750 GMT.
French day-ahead baseload power TRFRBD1 jumped 37.5% to trade at 71.5 euros/MWh.
France’s discount comes from an oversupply of nuclear and hydropower, with limited cross-border transit capacity.
LSEG data showed demand increases throughout the region, triggered by the arrival of hot weather, which increases the use of air conditioners.
Wind power supply in Germany, however, was due to gain 200 MW to come in at 6.7 gigawatts (GW) and rise by 1 GW in France to 2.2 GW on Thursday. LSEG also noted increased coal and gas burning capacity availability.
French nuclear capacity ran unchanged at 70% of the installed maximum. POWER/FR
On the demand side, LSEG forecasts pegged German usage at 55.7 GW, up 200 MW, and that in France at 44.5 GW, up 600 MW, on Thursday, with temperatures in a broad 23-24 degree Celsius range.
German year-ahead power TRDEBYZ5 was untraded after closing at 91.35 euros/MWh and the equivalent French 2025 contract also did not change hands TRFRBYZ5having settled at 69 euros.
European CO2 allowances for December 2024 CFI2Zc1 were up 1.1% at 68.65 euros a metric ton.
The U.S. Nasdaq exchange has canceled plans to transfer its Nordic power trading and clearing business to the European Energy Exchange (EEX), both said in separate statements on Wednesday.
VDKI, a German importers group of hard coal, said current annual import levels were 33 million tonnes, of which 18 million were for power generation, the rest for heating and steelmaking.
($1 = 0.9354 euros)
Reporting by Vera Eckert, editing by Eileen Soreng
