European prompt power prices fell on May 24 as a rise in German solar supply is projected to cover the fall in wind output in the first half of the day, while French wind supply is seen growing day-on-day.
German Thursday delivery baseload power fell 9.7% to 86 euros ($94.67) per megawatt hour (MWh) by 00859 GMT.
The equivalent French contract dropped 12.7% to 72 euros/MWh.
Solar power supply in Germany is expected to add 3.4 gigawatts (GW) to 13 GW on May 25, Refinitiv analysis showed.
German wind power production is forecast to dip 700 megawatts (MW) on the day-ahead to 10.5 GW on May 24, while wind supply in France is set to add 1.2 GW to 7.2 GW, Refinitiv Eikon data showed.
"Wind production will undergo a decrease during the first half of the day and an increase during the second half," Refinitiv analysts said.
Consumption in France is expected to edge up 40 MW to 42.8 GW on May 24, while power demand in Germany is projected to shed 670 MW day-on-day to 55.6 GW, Refinitiv data showed.
French nuclear availability fell one percentage point to 65% of available capacity, as the 900 MW Cruas 2 reactor went offline with an unplanned outage.
The unit disconnected from the grid following a fault on electricity transmission equipment outside the site, which put the reactor in an island state, meaning it is isolated it from the external network, operator EDF said.
Along the curve, German 2024 baseload shed 0.6% at 134.25 euros/MWh.
The equivalent 2024 French position was untraded with an ask price at 173 euros/MWh.
French winter 2023-24 power prices are starting to drop, as markets seem to gain confidence on nuclear availability, Kpler analyst Emeric de Vigan said.
European CO2 allowances for December 2023 expiry dipped 0.3% to 85.34 euros a tonne.
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