Prompt focus in lethargic market
French electricity market trading was prompt driven on Tuesday with next to no trading being seen on the curve. A colder weather front forecast for Wednesday drove the Day-ahead price up marginally during the course of the day as temperatures touching as low as minus six degrees are expected to hit France by Wednesday. Baseload had commenced trading around the EUR 24.75/MWh mark but, following a short-lived dip to EUR 24.50/MWh, rose to EUR 25.25/MWh. Day-ahead Peak prices slipped slightly from EUR 28.00/MWh to a last reported trade of EUR 27.75/MWh. Powernext and the OTC market were relatively in line for the day, with Powernext reporting a Baseload price of EUR 25.40/MWh and Peak at the EUR 27.93/MWh mark. As expected for the holiday period, trading volume was minimal as most players are still off the market. Anticipated high availability for the coming months in France meant there was no need to focus on the forwards market and the only interest expressed was a bid/offer spread in Calendar ’04 Baseload of EUR 31.25/ MWh – EUR 31.75/MWh. FF
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