EUROPE POWER-German year-ahead rises as gas gains support curve

- German year-ahead power rose on Tuesday, tracking higher gas and oil prices after U.S. President Donald Trump said the ceasefire with Iran was on "life support".

  • The German year-ahead baseload contract TRDEBYc1 rose 2.1% to 92.9 euros per megawatt-hour by 0843 GMT, LSEG data showed.

  • Dutch and British gas contracts rose on Tuesday as hopes for a peace deal started to fade.

  • Apart from the concerns surrounding the gas market, weak wind output is also adding to the bullish sentiment right now, analysts at Mind Energy wrote.

  • The equivalent French year-ahead contract TRFRBYc1 had an ask price of 56 euros/MWh.

  • Benchmark European carbon permits CFI2Zc1 were down 1% at 76.44 euros a metric ton, according to LSEG data.

  • The European Commission's review of its Emissions Trading System (EU ETS) should deliver an effective carbon price signal for the EU's share of international aviation emissions on extra-European routes, a senior EU official said on Tuesday.

  • On the spot side, colder, cloudier weather and lower German renewable output was a main price driver for the day-ahead baseload prices, Aaron Alber, analyst at Raiffeisen, said.

  • The German day-ahead baseload contract TRDEBD1 rose 20.8% to 112.75 euros/MWh, LSEG data showed.

  • The equivalent French contract TRFRBD1 fell by more than half of Tuesday's level to 34.60 euros/MWh as wind power growth was expected in the country.

  • Consumption in Germany is expected to rise by 0.3 gigawatts (GW) to 55.2 GW on Wednesday, while French consumption is seen down by 2 GW to 44 GW, LSEG data showed.

  • Wind power supply in Germany is forecast to fall by 6.7 GW to 19 GW, while French wind output is projected to rise by 7.8 GW to 10 GW, the data showed.

  • Solar power generation in Germany is expected to fall by 1.6 GW to 13.4 GW, while French solar output is seen little changed at 5.2 GW.

  • French nuclear availability remained stable at 85% of total capacity.