French prompt power prices fell Friday as the continued mild weather outlook eased demand pressure, while the end of unplanned strike action also lifted the nuclear power availability outlook, according to market sources.
French Monday baseload power closed at Eur44.25/MWh at 11:00 am London time, up just 25 euro cent from Friday delivery, but more than Eur10 below Thursday delivery, when strike action idled some 9 GW of nuclear output.
Monday peaks closed at Eur49.25/MWh, unchanged from Friday's closing price on Thursday.
Weekend power was last heard at Eur33/MWh, up Eur2.25 from Thursday's close. Saturday closed at Eur36.75/MWh with Epex Spot settling above OTC at Eur37.67/MWh.
There were continued capacity cuts Friday at EDF's French nuclear power plants after a strike on Thursday, which saw capacity cut by as much as 9.1 GW before capacity limitations were lifted overnight, the latest data from grid operator RTE showed.
The strikers were objecting to pay conditions and a spokesman for EDF said the action was set to end Thursday night, however fresh limitations of 800 MW imposed at 8:30 am Friday suggest further industrial action.
However, the nuclear availibility outlook for next week was much higher at 49.1 GW Monday, possibly rising above 50 GW later next week, RTE's latest outlook shows.
French nuclear output has not reached 50 GW since July. Temperatures for next week are also forecast to remain a few degrees above the seasonal average, limiting peak power demand, still pegged somewhat higher week on week at 60.5-61.5 GW Monday to Wednesday, according to grid operator data.
