EUROPE POWER: French Spot Falls on Higher Nuclear Supply, Soft Demand.

European power prices fell on higher nuclear supply and soft demand in France. Uniper SE, a Germany-based energy company, operates in three segments: Green Generation, Flexible Generation, and Greener Commodities. The Green Generation segment focuses on emission-free electricity generation, while Flexible Generation contributes to grid stability and security. Greener Commodities segment bundles energy trading and optimization activities.

European power prices surged sharply on Tuesday, driven by a combination of lower nuclear generation and decreased wind power output. French nuclear availability dropped, leading to a significant increase in wholesale European prompt power prices. By 0815 GMT on Wednesday, French baseload power for delivery was at 59 euros ($69.57) per megawatt-hour (MWh), up 165.2% from the previous close Less wind, nuclear supply lifts prices sharply^[1]. The German day-ahead baseload bid was 72.2 euros/MWh, having closed at 17.5 euros/MWh Less wind, nuclear supply lifts prices sharply^[1].

French nuclear capacity dropped by six percentage points to 73% of total capacity, with two new outages added. The Cattenom 3 reactor, disconnected for maintenance on the turbine control system, remains offline Less wind, nuclear supply lifts prices sharply^[1]. EDF announced a nationwide strike notice from late Wednesday to Thursday, further exacerbating supply concerns Less wind, nuclear supply lifts prices sharply^[1].

German wind power output is expected to fall by 15.4 gigawatts to 31.2 GW, while French output is projected to drop by 4.1 GW to 3.9 GW Less wind, nuclear supply lifts prices sharply^[1]. Power consumption in Germany is forecast to increase by 1.3 GW to 55.7 GW on Wednesday, while demand in France is expected to remain unchanged at 43.7 GW Less wind, nuclear supply lifts prices sharply^[1].

The German economy ministry announced plans to stop using fixed-price, long-term contracts to purchase power from renewable energy sources, a move welcomed by engineering, utility, and labor groups Less wind, nuclear supply lifts prices sharply^[1]. However, some expressed uncertainty about the impact on investments.