European spot prices were mixed on August 7 as German wind supply was expected to stay high and French supply was set to fall, while demand was forecast to rise throughout the region.

German day-ahead baseload power traded at 26.95 euros per megawatt hour (MWh) at 1014 GMT, down 7.1% from the price paid for August 7.

The equivalent French contract was at 73.50 euros per MWh, up 13.1%.

German wind power production was forecast to edge up by 270 megawatts (MW) to 32 GW on August 8, while wind supply in France was expected to decrease by 260 MW to 2.4 GW, Refinitiv Eikon data showed.

Refinitiv analysis showed that wind supply is expected to drop on August 9 to near 20 GW before diving on August 10 and August 11 to around 10 GW and 5 GW respectively.

French nuclear availability was unchanged at 55% of available capacity.

On the demand side, German consumption was forecast to rise by 2.2 GW day-on-day to 52.2 GW on August 8, and in France, use was expected to rise by 1.5 GW to 38.8 GW, Refinitiv Eikon data showed.

France overtook Sweden to be the biggest net exporter of power in Europe over the first half of the year, while Germany moved from exporter to importer, data from analytics company EnAppSys BV showed.

"In Germany, the closure of nuclear power plants was the main reason why the energy balance flipped to imports," EnAppSys BV analysts said.

Along the curve, the German year-ahead position dipped 0.2% to 133.25 euros/MWh. The French 2024 contract was untraded after closing at 156.50 euros/MWh.

European CO2 allowances for December 2023 expiry shed 0.6% to 83.12 euros a tonne.

Swiss-based gas and power company MET Group announced its entry into the French market through its Lyon-based subsidiary, located in eastern France, and plans to make public its offers and strategy in September 2023.