German wind supply expected to jump early next week
output is expected to rise sharply on Monday to near triple Friday levels, while demand is seen dropping on a forecast decline in temperatures.
The German and French Monday
baseload power contracts
, were both untraded by 0951 GMT, LSEG data showed.
Baseload prices for Friday had closed at 98 euros/MWh and 64.25 euros/MWh respectively on Thursday.
A strong wind ramp-up is expected early next week before easing, while solar output is expected to remain low but could improve by the end of the week, analysts at
Engie EnergyScan
said in their daily report.
On the demand side, temperatures are expected to rise slightly by the middle of next week before cooling at the end of the week, they added.
German wind power output was expected to rise by 10.4 GW to 15.6 GW on Monday, while French wind supply was seen up 3 GW at 5.7 GW, LSEG data showed.
LSEG analysis showed that average wind supply in Germany is expected to peak on Tuesday next week at near 19 GW, before falling back slowly by several gigawatts per day until it reaches around 10 GW by Friday.
German solar power supply was projected to tick up 380 megawatts (MW) to 5 GW, LSEG data showed.
Power consumption in Germany is forecast to fall 1.9 GW to 50 GW on Monday, while demand in France is seen down 1.9 GW to 40.3 GW, the data showed.
French nuclear availability
fell two percentage points to 75 per cent of total capacity.
The Penly 1 reactor went offline in the afternoon on Thursday and teams are carrying out maintenance in the non-nuclear part of the facility, operator EDF said.
German year-ahead power rose 0.6 per cent to 85.30 euros ($100.09) per megawatt hour (MWh), while the French 2026 baseload contract ticked up 0.1 per cent to 61.90 euros/MWh.
In the European carbon market, the benchmark contract inched up by 0.3 per cent to 71.07 euros a metric ton.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
36 minutes ago
- The Hindu
As per SC order, J&K govt. takes over iconic Nedou's Hotel in Gulmarg
Under a tight security cover, the iconic and historic Nedou's Hotel was 'smoothly' taken over by the Gulmarg Development Authority (GDA) after evicting the Nedou's family and their staff, running the place for the past 137 years, as per a Supreme Court order. 'It was a smooth transition. They [the Nedou's family] cooperated well. The hotel structures and the huts have been sealed as per the court orders. The GDA has taken over everything, including the articles inside for now,' Tariq Hussain Naik, Chief Executive Officer, GDA, who oversaw the takeover, told The Hindu. The GDA also made an inventory of the articles inside the structures, which include heritage furniture and artefacts. Perched on a small hill in Gulmarg with snow-capped mountains in the backdrop, the iconic Nedou's Hotel was set up in 1888 by Michael Adam Nedou, a European who discovered Gulmarg in north Kashmir's Baramulla district. Afterwards, it became a popular holiday destination for Europeans and royalty. After 1947, the hotel became a favourite haunt for politicians like Congress leader Indira Gandhi and Bollywood stars like Dilip Kumar. Several movies and songs were shot in and around the iconic wooden structure. At the time of eviction, officials said Omar K. Nedou, the great-grandson of Michael Nedou, and his wife Dilnawaz Nedou, who oversaw the Food and Beverage department, were present. Over 45 staff members also stood with the family members who worked for the hotel for several decades. The District Magistrate, Baramulla, provided adequate security personnel 'to ensure the peaceful execution of the eviction process and maintenance of public order'. The Nedous were in possession of nearly 98 kanals and 11 marlas of government land. The family had earned multiple leases from the government from 1888 till 1985. However, the family, which is related to Chief Minister Omar Abdullah, failed to renew the lease after its expiration in 1985. The Jammu and Kashmir government rejected the lease in February 2015. Later, the High Court too dismissed the hotel's plea for lease renewal and declared it as an unauthorised occupant under the Jammu and Kashmir Public Premises (Eviction of Unauthorised Occupants) Act, 1988. The Supreme Court also issued eviction orders against the Nedous. 'Nobody is above law,' CEO Mr. Naik said. It is highly unlikely the family can apply for the property again because under the amended Land Grants Act rules 2022, the previous occupant cannot apply for the lease again.
India Today
2 hours ago
- India Today
Nations criticising India indulging in trade with Russia: India's full statement
India has firmly defended its oil imports from Russia, calling out the 'unjustified and unreasonable' criticism by the United States and European Union, and highlighting what it sees as double standards in the West's own trade with a strong statement, the Ministry of External Affairs said that India's energy imports are a matter of economic necessity, driven by global market shifts following the outbreak of the Ukraine conflict. The ministry pointed out that the US had in fact 'actively encouraged such imports by India to strengthen global energy markets stability.'advertisementHERE IS THE FULL STATEMENT RELEASED BY INDIA: 1. India has been targeted by the United States and the European Union for importing oil from Russia after the commencement of the Ukraine conflict. In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability.2. India's imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by the global market situation. However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion.3. The European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia. In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India's total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.4. Europe-Russia trade includes not just energy, but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment.5. Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers as well as chemicals.6. In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.- EndsTune InMust Watch
&w=3840&q=100)
Business Standard
2 hours ago
- Business Standard
Aurobindo Pharma Q1 PAT falls 10% on drop in API sales, US market revenue
Aurobindo Pharma on Monday reported a 10.2% year-on-year (Y-o-Y) drop in consolidated profit after tax (PAT) for the June quarter (Q1 FY26), which stood at Rs 824 crore. The decline was attributed to a drop in sales in its active pharmaceutical ingredients (API) business and the United States (US) market. The Hyderabad-based drugmaker had recorded a net profit of Rs 918 crore in Q1 FY25. The company stated that its API business was affected by pricing pressures and geopolitical tensions, with revenues for the segment falling by 16% Y-o-Y to Rs 916 crore in Q1 FY26. However, the drugmaker recorded a 4% Y-o-Y rise in revenue from operations, reaching Rs 7,868 crore in the June quarter, up from Rs 7,567 crore in Q1 FY25. This increase was primarily driven by a 7.4% Y-o-Y rise in the drugmaker's formulations business revenue, which contributes around 85% of the company's overall revenue. Aurobindo Pharma saw an 18% Y-o-Y revenue growth in European markets, which stood at Rs 2,338 crore, driven by a strong performance across all key markets. Similarly, revenue from growth markets formulations increased by 8.8% Y-o-Y to Rs 772 crore in the June quarter, compared to Rs 709 crore in the same period last year. However, the company's US formulations business, which accounts for 44% of its revenue, saw a marginal 1.9% Y-o-Y dip in sales, from Rs 3,555 crore in Q1 FY25 to Rs 3,488 crore in Q1 FY26. According to the company's regulatory filing, the decline in US revenue was primarily due to a significant reduction in sales of the anti-cancer medication lenalidomide. Commenting on the company's performance, K. Nithyananda Reddy, Vice Chairman and Managing Director of Aurobindo Pharma, said that the company has started FY26 steadily, with its European business maintaining strong growth momentum and the core US business showing resilience despite temporary challenges from destocking and seasonal dynamics. The company announced its results after market hours. On Monday, Aurobindo Pharma's shares rose marginally by 1.04%, ending the day's trade at Rs 1,090.90 apiece on the exchanges.
