PARIS: Prompt prices fell on the European wholesale power market on Thursday, with wind power supply expected to rise across the region while demand is expected to fall.
German Friday baseload fell 9% to 205.75 euros ($230.87) a megawatt hour (MWh) by 0931 GMT.
The equivalent French contract dropped 9% to 283 euros.
The residual load is expected to drop throughout the region on Friday, amid strengthening wind power supply and reduced demand, Refinitiv analysts said.
“On the thermal side, we expect improved lignite capacity in Germany, but reduced nuclear capacity in France,” they added.
German wind power supply is expected to rise by 1.2 gigawatts (GW) to 14.9 GW, Refinitiv Eikon data showed. Levels are expected to come in at 13 GW on Monday before climbing above 27 GW midweek.
Wind power supply in France is forecast to rise by 3.4 GW to 7 GW day on day, the data showed.
French nuclear power availability rose 1.4 percentage points to 70.3% of installed capacity.
German power consumption is forecast to shed 890 megawatts (MW) on Friday to 63.5 GW, Refinitiv Eikon data showed.
Demand in France is expected to drop by 460 MW to 68.5 GW, the data showed.
Along the curve, German baseload for delivery next year reached its highest since Oct. 6 at 139.50 euros/MWh, up 1.1%.
The equivalent French contract for 2022 delivery edged up 0.1% to 158.50 euros.
December 2021 expiry European CO2 allowances shed 0.2% to 72.76 euros a tonne.
Hard coal for northern European delivery in 2022 was untraded after closing at $133.50 a tonne on Wednesday.
Spanish industrial production prices hit a record high in October, pushed up by soaring power costs.