# Spot prices up on less solar, rising French demand
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-08-17
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: European Spot Power Contracts Rise on Solar Supply Decline
Meta Description: Stay updated on the latest in European spot power contracts with rising prices and reactor delays. Read more on Reuters.
URL: https://financedigest.com/spot-prices-up-on-less-solar-rising-french-demandhtml

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PARIS (Reuters) – European spot power contracts rose on Wednesday, as solar supply in Germany is expected to fall while demand is forecast to rise in France and a reactor restart was pushed back one day.

German baseload power for delivery on Thursday rose 2.4% to 561 euros ($570.76) a megawatt-hour (MWh) at 0914 GMT.

The equivalent French price gained 1.6% to 561 euros/MWh.

[Power from German solar](https://www.financedigest.com/public-power-corp-rwe-to-build-five-solar-farms-in-greece.html "Public Power Corp, RWE to build five solar farms in Greece") panels is seen falling 2.5 gigawatts (GW) to 7.9 GW, the data showed.

The solar peak is [set to drop by 7 GW though and we expect](https://www.financedigest.com/dollar-set-for-weekly-loss-amid-expectations-fed-will-slow-hikes.html "Dollar set for weekly loss amid expectations Fed will slow hikes") little to no net exports in the solar hours,” Refinitiv analysts said.

Daily wind power output in Germany was forecast to gain 2.1 GW day-on-day to 4.2 GW on Thursday, while that in France is expected to add 1.3 GW to 2.3 GW, Refinitiv Eikon data showed.

French nuclear [availability was flat at 46.4% of total](https://www.financedigest.com/simalliance-members-report-shipments-of-4-9-billion-sims-in-2017-while-estimated-total-available-sim-market-in-2017-increases-2-75-to-5-6-billion-units.html "SIMalliance Members Report Shipments of 4.9 Billion SIMs in 2017, while Estimated Total Available SIM Market in 2017 Increases 2.75% to 5.6 Billion Units   ") capacity. \[POWER/FR\]

The Paluel 4 reactor restart was delayed one day to Thursday after going offline with an unplanned outage on Monday.

Water levels on the Kaub river in Germany were at 34 cm Wednesday. Levels in the 30 to 35 cm range are acceptable for shipping, if expensive and with big losses in loadable cargo so as not to weigh down vessels too much.

Power consumption in France is [expected to rise](https://www.financedigest.com/german-industrial-orders-rise-more-than-expected-in-february.html "German industrial orders rise more than expected in February") 1.7 GW to 40.2 GW on Thursday, while demand in Germany is set to edge down 450 megawatts (MW) to 56.2 GW, Refinitiv Eikon data showed.

Along the curve, German forward prices rose across the board, with the November 2022 contract reaching a high as utility Uniper unveiled a net loss of more than 12 [billion euros in the first half](https://www.financedigest.com/spotify-listeners-cross-half-a-billion-mark.html "Spotify listeners cross half a billion mark") of 2022.

German baseload for 2023 delivery rose 5% to 521 euros/MWh.

The equivalent [French position was untraded after closing](https://www.financedigest.com/nestle-closes-french-buitoni-factory-hit-by-e-coli-outbreak.html "Nestle closes French Buitoni factory hit by E.coli outbreak") at a contract high of 612 euros on Tuesday.

European CO2 allowances for December 2022 expiry [gained 3.3% to 95.13 euros](https://www.financedigest.com/dollar-slips-yuan-gains-on-china-pmi-hot-inflation-lifts-euro.html "Dollar slips, yuan gains on China PMI; hot inflation lifts euro") a tonne.

($1 = 0.9829 euros)

(Reporting by Forrest Crellin, additional reporting by Vera Eckert; editing by Robert Birsel)


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