Renewables forecast to plunge in Germany on Monday
PARIS, Sept 20 (Reuters) -Spot prices for Monday were untraded early on Friday as German renewable supply was expected to plummet, with wind and solar forecast to fall to about a third of Friday's level.
The German and French Monday baseload power contracts were untraded at 0842 GMT, LSEG data showed. TRDEBD3TRFRBD3
Residual load is expected to rise on Monday while lignite and coal capacity increases in Germany, said LSEG analyst Francisco Gaspar Machado.
German wind power output is forecast at 6.1 gigawatts (GW) on Monday, plummeting 12.1 GW from Friday, while French output is expected to add 850 megawatts (MW) to 4.5 GW, LSEG data showed.
German solar power supply is forecast to drop 4.8 GW to 2.3 GW on Monday.
LSEG analysis showed wind power supply is forecast to rebound to around 15 GW on Tuesday and Wednesday then rise sharply to over 30 GW at the end of the week.
French nuclear availability was unchanged at 75% of available capacity. POWER/FR
Power consumption in Germany is forecast to add 3 GW to 57.1 GW on Monday, while demand in France is projected to edge up 650 MW to 42.9 GW.
German 2025 baseload TRDEBYZ5 rose 1.2% to 82.95 euros per megawatt-hour (MWh), while the equivalent French position TRFRBYZ5 was down 0.3% at 67.25 euros/MWh.
European CO2 allowances for December 2024 expiry CFI2Zc1 rose 1.3% to 63.65 euros a metric ton.
Carbon allowances reached their lowest level in nearly half a year on Thursday, tracking other related markets late in the day, but have rebound on Friday in an apparent technical reaction, analysts at EnergiDanmark said in an online note.
Reporting by Forrest Crellin; Editing by Varun H K
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