FRANCE'S ENERGY IMPORTS

PLATTS - 12 Apr 2021 - France was a net importer of power in Week 14 (April 5-11) as cold temperatures saw power demand rise sharply after the Easter weekend, while a combination of planned and forced outages in EDF's nuclear fleet saw its generation at a six-month low.

Over the week, France imported, on average, 0.9 GW compared with exports of 6.8 GW in Week 13, as imports from Belgium/Germany hit the highest since Week 1 and flows to Spain reversed. Exports to Italy, Switzerland and the UK were down significantly week on week.

Power consumption averaged 54.8 GW across Week 14, up 6.2 GW week on week as unseasonably low temperatures caused a spike in demand in France, where power consumption is sensitive to cold temperatures given the extensive use of electricity for heating.

Between April 5, the end of the Easter holiday weekend, and April 6, consumption climbed over 20% to 58.6 GW and then further still through the week.

Meanwhile, nuclear output fell more than 2 GW week on week to the lowest average nuclear output since Week 40 in 2020.

According to EDF, the 1,330 MW Paluel 3 and 890 MW Dampierre 1 reactors went offline as planned during Week 14, while the 1,330 MW Paluel 1 and Paluel 4 units, as well as the 915 MW Tricastin 4 unit, were forced offline as a result of failures. Output was also reduced at the 900 MW Cruas 2 and Chinon 1 reactors due to strike action. Dampierre 4 and Cruas 4 returned to action in Week 14, however, after planned outages.

Having hit record lows in the first quarter, nuclear output climbed towards its 10-year average in March, but the fall in output from the previous three weeks saw nuclear generation in Week 14 set a record low for the week, according to RTE data going back to 2012.

According to EPEX Spot data, French day-ahead baseload prices have averaged Eur52.36/MWh ($62.3/MWh) month to date, higher than any April monthly average since at least 2012.

The near-term price outlook was trending towards the upside on an expected combination of cold temperatures and low wind input, while the low nuclear output provided further price support.

"The market seems to be very bullish still...also the latest forecasts show low wind input while French nukes are going offline in the next couple of weeks," a European power trader said.

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