{"id":4343,"date":"2020-12-10T15:37:13","date_gmt":"2020-12-10T14:37:13","guid":{"rendered":"https:\/\/hayaenergy.marieduprez.fr\/french-power-and-gas-markets-analysis\/"},"modified":"2026-09-18T09:27:30","modified_gmt":"2026-09-18T07:27:30","slug":"mafs_french-market-analysis","status":"publish","type":"page","link":"https:\/\/hayaenergy.com\/fr\/mafs_french-market-analysis\/","title":{"rendered":"Analyse du march\u00e9 France"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4343\" class=\"elementor elementor-4343 elementor-67\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d40557e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d40557e\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47bbd37\" data-id=\"47bbd37\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a389b4 elementor-widget elementor-widget-heading\" data-id=\"5a389b4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key Insights from the French Market Analysis<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff10e8c elementor-widget elementor-widget-text-editor\" data-id=\"ff10e8c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Analysis of the French energy market<\/strong> is key to understanding the dynamics and trends affecting the sector both locally and internationally. In this detailed analysis, we address the important factors influencing energy prices, supply and demand, and the latest regulatory policies. This comprehensive overview will allow you to keep up to date with weekly changes and anticipate possible market variations, both in France and in other relevant markets such as Spain.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7211e97 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"7211e97\" data-element_type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;],&quot;exclude_headings_by_selector&quot;:&quot;H3&quot;,&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h2 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h2>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__7211e97\" aria-expanded=\"true\" aria-label=\"Ouvrir la table des mati\u00e8res\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__7211e97\" aria-expanded=\"true\" aria-label=\"Fermer la table des mati\u00e8res\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__7211e97\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d66e293 elementor-widget elementor-widget-heading\" data-id=\"d66e293\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">August 2026<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a1b38cc elementor-widget elementor-widget-text-editor\" data-id=\"a1b38cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; background-color: var(--ast-global-color-5);\"><span style=\"font-size: 38px; color: #4bacc6;\"><b>Key figures of the month<\/b><\/span><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8233c18 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"8233c18\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"240\" src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-1024x240.png\" class=\"attachment-large size-large wp-image-20810\" alt=\"Table of mean energy market prices for France, Spain, Italy, the UK and Germany, including power, gas, coal and CO2 price indicators 2026.\" srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-1024x240.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-300x70.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-768x180.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-1536x360.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Tendencies-Prices-EU-Haya-Energy-Solutions-1-2048x480.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-500acf8 elementor-widget elementor-widget-text-editor\" data-id=\"500acf8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><em>Source: Haya Energy Solutions<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0da3863 elementor-widget elementor-widget-text-editor\" data-id=\"0da3863\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">In August 2026, electricity spot prices increased\u00a0sharply\u00a0across most major European markets. The upward movement was also visible in the forward market, with Power Cal\u201927 rising across all countries,\u00a0largely supported\u00a0by higher gas prices. More broadly, the increase in energy prices added renewed inflationary pressure to the European economy, particularly through higher electricity and fuel costs.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Spain,\u00a0France\u00a0and Germany remained in the lower range of monthly average electricity prices, between 115 and 130 \u20ac\/MWh. Spain was the lowest-priced power market in the region, with an average price of 118.24 \u20ac\/MWh, despite an increase of around 15 \u20ac\/MWh compared with July. France ranked second, averaging 122.80 \u20ac\/MWh, while Germany followed at 126.89 \u20ac\/MWh.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">By contrast, the UK recorded an average monthly price close to 150 \u20ac\/MWh. Italy once again stood out as the highest-priced market, averaging around 180 \u20ac\/MWh and moving closer to the 200 \u20ac\/MWh\u00a0level. This reflects the Italian generation mix\u2019s greater dependence on gas-fired technologies.\u00a0As a result, sharp increases in natural gas prices, such as those\u00a0observed\u00a0during August, tend to feed through more directly into wholesale electricity prices.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Overall, several European power markets recorded price peaks not seen since early 2023, highlighting the\u00a0magnitude\u00a0of the upward repricing experienced during the month.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">At the same time,\u00a0August also saw new daily solar PV generation records across several major European markets. New all-time daily highs for August were reached in Germany (491 GWh), Spain (277 GWh)\u00a0and France (190 GWh).<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">On the gas side, average spot prices stood broadly within the 60\u201362 \u20ac\/MWh range across most markets. Compared with July, gas prices increased across all countries, while Gas Cal\u201927 also moved higher on a month-on-month basis across all markets.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">As has been the case since the outbreak of the conflict, gas price formation remained\u00a0largely driven\u00a0by developments involving Iran,\u00a0Israel\u00a0and the United States. A more detailed review of the main developments during August and their impact on gas prices is provided in section 3.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">As for CO<\/span><span data-contrast=\"none\">\u2082<\/span><span data-contrast=\"none\">, prices increased from around 84\u00a0\u20ac\/t in July to 85\u00a0\u20ac\/t in August, extending the upward trend\u00a0observed\u00a0over recent months.\u00a0The monthly average in August was the highest recorded since February 2026.\u00a0Overall, the month was characterised by broad-based increases across the main energy commodities, with electricity, natural\u00a0gas\u00a0and CO<\/span><span data-contrast=\"none\">\u2082<\/span><span data-contrast=\"none\">\u00a0all moving higher.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce905ea elementor-widget elementor-widget-text-editor\" data-id=\"ce905ea\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; background-color: var(--ast-global-color-5);\"><span style=\"font-size: 38px; color: #4bacc6;\"><b>Energy demand and generation mix<\/b><\/span><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-936cfe4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"936cfe4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f42aa1d\" data-id=\"f42aa1d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-160f45b elementor-widget elementor-widget-image\" data-id=\"160f45b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"971\" height=\"1024\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1-971x1024.png\" class=\"attachment-large size-large wp-image-20781 lazyload\" alt=\"Stacked bar chart showing the electricity energy mix by source, including wind, PV, hydro, nuclear, CCGT and other generation technologies for France.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1-971x1024.png 971w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1-284x300.png 284w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1-768x810.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1-1456x1536.png 1456w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Energy-Mix-Haya-Energy-Solutions-1.png 1718w\" data-sizes=\"(max-width: 971px) 100vw, 971px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 971px; --smush-placeholder-aspect-ratio: 971\/1024;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-865b5db elementor-widget elementor-widget-text-editor\" data-id=\"865b5db\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><em>Source: Haya Energy Solutions<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9acfb86\" data-id=\"9acfb86\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-87e68af elementor-widget elementor-widget-text-editor\" data-id=\"87e68af\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">In\u00a0<\/span><b><span data-contrast=\"none\">August\u00a02026<\/span><\/b><span data-contrast=\"none\">,\u00a0total\u00a0generation\u00a0in France reached\u00a0<\/span><b><span data-contrast=\"none\">37,818\u00a0GWh<\/span><\/b><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><span style=\"font-size: 16px;\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Nuclear power\u00a0remains\u00a0the backbone of the French generation mix<\/span><\/b><span data-contrast=\"none\">, playing a key role in ensuring system security of supply; it\u00a0represented\u00a068.4%\u00a0of\u00a0August\u2019s energy mix.\u00a0However,\u00a0high temperatures\u00a0affected nuclear availability during the month, as rising river temperatures led to temporary output reductions or shutdowns at several plants, including\u00a0<\/span><b><span data-contrast=\"none\">Bugey,\u00a0Golfech\u00a0and\u00a0Tricastin<\/span><\/b><span data-contrast=\"none\">,\u00a0in order to\u00a0comply with\u00a0environmental limits on cooling-water temperatures.\u00a0<\/span><b><span data-contrast=\"none\">CCGT generation\u00a0increased from 2.4% in July to\u00a04.0%\u00a0in August,\u00a0<\/span><\/b><span data-contrast=\"none\">providing\u00a0additional\u00a0flexibility during periods of lower nuclear availability.\u00a0The\u00a0other main technologies\u00a0have been\u00a0solar PV,\u00a0hydro\u00a0and\u00a0wind generation.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\" data-contrast=\"none\">Regarding\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">renewable energy sources<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, the overall contribution was\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">broadly aligned with the previous month<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">.\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">Solar PV was the largest renewable<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">contributor<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, accounting for 11.3% of total generation.\u00a0It was followed by wind generation\u00a0(8.1%) and\u00a0hydropower\u00a0(6.6%).\u00a0Overall, renewables continued to play\u00a0an important role\u00a0in the French power mix, with solar and wind providing the main contributions during the month.\u00a0Hydroelectric stocks\u00a0have\u00a0decreased\u00a0in the last months\u00a0from\u00a02,439\u00a0GWh at the end of\u00a0June\u00a0until\u00a02,073\u00a0GWh by end\u00a0August\u00a0(figures until\u00a0week\u00a034\u00a0in RTE),\u00a0with\u00a0very low\u00a0levels\u00a0in comparison with the last 5 years\u00a0stock level in\u00a0the same\u00a0period.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ccca19 elementor-widget elementor-widget-image\" data-id=\"2ccca19\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"520\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-1024x520.png\" class=\"attachment-large size-large wp-image-20784 lazyload\" alt=\"French Hydro stocks\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-1024x520.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-300x152.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-768x390.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-1536x779.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/French-Hydro-stocks-Haya-Energy-Solutions-2048x1039.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/520;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9e5686 elementor-widget elementor-widget-text-editor\" data-id=\"f9e5686\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW57110820 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW57110820 BCX8\">Note:<\/span><\/span><span class=\"TextRun SCXW57110820 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW57110820 BCX8\">\u00a0Hydraulic stock\u00a0<\/span><span class=\"NormalTextRun SCXW57110820 BCX8\">represents<\/span><span class=\"NormalTextRun SCXW57110820 BCX8\">\u00a0the aggregated energy content of French lake-type hydro reservoirs, expressed as\u00a0<\/span><\/span><span class=\"TextRun SCXW57110820 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW57110820 BCX8\">head energy<\/span><\/span><span class=\"TextRun SCXW57110820 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW57110820 BCX8\">\u00a0(energy producible by the plant directly connected to the reservoir). Maximum stock: 3,591 GWh. Data published weekly by RTE.<\/span><\/span><span class=\"EOP Selected SCXW57110820 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e66b3a4 elementor-widget elementor-widget-text-editor\" data-id=\"e66b3a4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"color: #4bacc6; font-size: 38px;\"><b>Energy prices &amp; market panorama<\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5a8018 elementor-widget elementor-widget-text-editor\" data-id=\"f5a8018\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Power prices in\u00a0<\/span><b><span data-contrast=\"none\">August 2026 were\u00a0mainly driven\u00a0by\u00a0high temperatures, nuclear\u00a0availability\u00a0and renewable output volatility<\/span><\/b><span data-contrast=\"none\">. Elevated temperatures increased cooling demand and, at the same time, rising river temperatures constrained nuclear generation at several plants, adding pressure to the market.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\" data-contrast=\"none\">August\u2019s average spot electricity price in France reached\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">122.8\u00a0\u20ac\/MWh<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, a\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">29% increase compared with\u00a0July\u2019s average of\u00a095.2\u00a0\u20ac\/MWh\u00a0<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">and 125.6%\u00a0above August 2025. As shown in the graph, prices fluctuated significantly throughout the month, with a\u00a0minimum\u00a0quarterly\u00a0price\u00a0of\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">-11.3\u00a0\u20ac\/MWh on\u00a08\u00a0August<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0at 14pm\u00a0and a maximum of\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">487.4\u00a0\u20ac\/MWh on\u00a013\u00a0August\u00a0<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">at 19pm.\u00a0<\/span><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\" data-contrast=\"none\">Low-price hours became less frequent than in July, with\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">11.9% of prices below \u20ac5\/MWh<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, compared with\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">19.8% in July<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">. In contrast, high-price periods increased significantly, with\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">65.8% of prices above \u20ac120\/MWh, compared with 46.6% in July<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">. This is consistent with the higher contribution of\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">CCGT generation\u00a0as well as with the strong increase in\u00a0gas prices.<\/span><\/b><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\" data-contrast=\"none\">The intraday price pattern\u00a0observed\u00a0on\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">13 August<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0is illustrative of a broader dynamic seen repeatedly during the\u00a0last months. Strong solar generation helped depress prices around midday, but the\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">sharp decline in solar output in the evening<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, while demand remained elevated,\u00a0required\u00a0a rapid increase in flexible generation. On 13 August, for example, solar generation fell from around\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">21 GW in the afternoon to 9.1 GW at 19pm<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">. This loss of solar output had to be replaced by other technologies:\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">gas generation rose from below 1 GW during peak solar hours to 3.5\u20134.1 GW in the evening<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, while reservoir and pumped-storage hydro also ramped up significantly.\u00a0With wind output\u00a0remaining\u00a0relatively low\u00a0and nuclear generation offering limited short-term flexibility,\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">CCGTs were therefore more likely to set the marginal price during evening hours<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">.<\/span><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\" data-contrast=\"none\">In terms of cross-border flows,\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">France\u00a0remained\u00a0a net exporter<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0across most interconnections. Hourly export levels\u00a0reached\u00a0c.\u00a018\u00a0GW at peak during the month.<\/span><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8293430 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"8293430\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Power-Prices-HayEnergySolutions.png\" title=\"Power-Prices-HayEnergySolutions\" alt=\"Line chart showing daily power prices in \u20ac\/MWh for 2026, with monthly benchmark price lines.\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 3334px; --smush-placeholder-aspect-ratio: 3334\/1632;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b8231a elementor-widget elementor-widget-text-editor\" data-id=\"7b8231a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><em>Source: Haya Energy Solutions<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-ecab716 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ecab716\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c75ed1f\" data-id=\"c75ed1f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-93710fe elementor-widget elementor-widget-text-editor\" data-id=\"93710fe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Regarding\u00a0the PEG Day-Ahead spot price,\u00a0<\/span><b><span data-contrast=\"none\">August 2026 prices averaged \u20ac62.3\/MWh<\/span><\/b><span data-contrast=\"none\">, increasing by\u00a0<\/span><b><span data-contrast=\"none\">15.4% compared with July\u2019s average of \u20ac54.0\/MWh<\/span><\/b><span data-contrast=\"none\">, with daily prices ranging between\u00a0<\/span><b><span data-contrast=\"none\">\u20ac53.0\/MWh and \u20ac69.7\/MWh\u00a0<\/span><\/b><span data-contrast=\"none\">throughout the month. As shown in the graph, prices remained\u00a0relatively firm\u00a0throughout the month and strengthened particularly during the second half of August.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><span style=\"font-size: 16px;\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Gas prices were supported by a combination of\u00a0<\/span><b><span data-contrast=\"none\">tight supply fundamentals and stronger weather-driven demand<\/span><\/b><span data-contrast=\"none\">.\u00a0High temperatures\u00a0increased gas demand for power generation, as CCGTs\u00a0were increasingly required\u00a0to compensate for lower nuclear availability. At the same time, the European market remained exposed to\u00a0<\/span><b><span data-contrast=\"none\">constrained LNG availability, competition for cargoes and temporary limitations in Norwegian supply<\/span><\/b><span data-contrast=\"none\">, keeping prices elevated. French LNG availability had already tightened significantly ahead of August, with several scheduled cargoes diverted to other markets.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ed2342\" data-id=\"2ed2342\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d33d3b3 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"d33d3b3\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"479\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-1024x479.png\" class=\"attachment-large size-large wp-image-20790 lazyload\" alt=\"Line chart showing daily gas prices in \u20ac\/MWh for 2026, with monthly benchmark price lines.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-1024x479.png 1024w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-300x140.png 300w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-768x359.png 768w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-1536x719.png 1536w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Gas-Prices-HayEnergySolutions-2048x958.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/479;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73de2df elementor-widget elementor-widget-text-editor\" data-id=\"73de2df\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><em>Source: Haya Energy Solutions<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5ad369 elementor-widget elementor-widget-text-editor\" data-id=\"c5ad369\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">The storage situation also\u00a0remained\u00a0a key bullish factor.\u00a0<\/span><b><span data-contrast=\"none\">EU gas stocks ended August at around 65% full<\/span><\/b><span data-contrast=\"none\">, well below both the\u00a0<\/span><b><span data-contrast=\"none\">77% recorded at the same time in 2025<\/span><\/b><span data-contrast=\"none\">\u00a0and the historical average of\u00a0roughly\u00a0<\/span><b><span data-contrast=\"none\">79%<\/span><\/b><span data-contrast=\"none\">. France itself was around\u00a0<\/span><b><span data-contrast=\"none\">71% full<\/span><\/b><span data-contrast=\"none\">\u00a0at the end of the month. This persistent storage deficit, together with uncertainties around LNG and Norwegian supply, leaves PEG prices particularly sensitive to further supply disruptions, weather\u00a0conditions\u00a0and competition with Asia for LNG ahead of winter.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d201862 elementor-widget elementor-widget-text-editor\" data-id=\"d201862\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; color: #4bacc6;\"><b>Market trends and futures<\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f5285da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f5285da\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8f369b3\" data-id=\"8f369b3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-379b0f5 elementor-widget elementor-widget-image\" data-id=\"379b0f5\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"541\" height=\"699\" data-src=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-France-Haya-Energy-Solutions-1.png\" class=\"attachment-large size-large wp-image-20796 lazyload\" alt=\"Table comparing two months forward prices for power, gas and CO2, including percentage changes by delivery period.\" data-srcset=\"https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-France-Haya-Energy-Solutions-1.png 541w, https:\/\/hayaenergy.com\/wp-content\/uploads\/2026\/09\/Futures-Prices-France-Haya-Energy-Solutions-1-232x300.png 232w\" data-sizes=\"(max-width: 541px) 100vw, 541px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 541px; --smush-placeholder-aspect-ratio: 541\/699;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67c50e2 elementor-widget elementor-widget-text-editor\" data-id=\"67c50e2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><em>Source: Haya Energy Solutions<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-47b7322\" data-id=\"47b7322\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d8db5d4 elementor-widget elementor-widget-text-editor\" data-id=\"d8db5d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">During August,\u00a0<\/span><b><span data-contrast=\"none\">French power futures moved higher across the curve<\/span><\/b><span data-contrast=\"none\">, with the strongest increases concentrated in the short- and medium-term products. The move was particularly visible in\u00a0<\/span><b><span data-contrast=\"none\">Q4-2026<\/span><\/b><span data-contrast=\"none\">, while longer-dated contracts remained comparatively stable. This suggests that the repricing was\u00a0mainly driven\u00a0by\u00a0<\/span><b><span data-contrast=\"none\">near-term winter supply concerns<\/span><\/b><span data-contrast=\"none\">\u00a0rather than by a structural change in the long-term French power outlook.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><span style=\"font-size: 16px;\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The main driver was the\u00a0<\/span><b><span data-contrast=\"none\">sharp increase in gas prices<\/span><\/b><span data-contrast=\"none\">, combined with concerns over the French winter power balance.\u00a0<\/span><b><span data-contrast=\"none\">Gas forwards rose across the curve<\/span><\/b><span data-contrast=\"none\">, with short-term contracts increasing by around\u00a0<\/span><b><span data-contrast=\"none\">15\u201317%<\/span><\/b><span data-contrast=\"none\">. European gas markets\u00a0remain\u00a0exposed to\u00a0<\/span><b><span data-contrast=\"none\">low storage levels, LNG\u00a0availability\u00a0and geopolitical risks<\/span><\/b><span data-contrast=\"none\">, all of which have increased the risk premium ahead of winter.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">This gas rally fed directly into French power forwards because <\/span><b>gas-fired generation often sets the marginal electricity price when nuclear or renewable availability is lower<\/b><span data-contrast=\"none\">. In those periods, higher gas prices translate into a higher marginal power price, especially during peak-demand hours or when renewable output falls. This dynamic became particularly relevant over the summer, when lower nuclear flexibility and the evening decline in solar generation increased the need for flexible thermal generation.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-eaa5a57 elementor-widget elementor-widget-text-editor\" data-id=\"eaa5a57\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">This is also reflected in the\u00a0<\/span><b>clean spark spreads<\/b><span data-contrast=\"none\">, which became more negative despite higher power prices. The increase in gas and carbon costs more than offset the rise in electricity prices, worsening the economics of gas-fired generation, particularly for winter delivery periods.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b>Carbon prices remained comparatively stable<\/b><span data-contrast=\"none\">, with only modest increases across the curve. This indicates that the recent move in French power prices was driven primarily by\u00a0<\/span><b>gas and winter supply concerns<\/b><span data-contrast=\"none\">, rather than by a significant repricing of carbon.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b style=\"font-style: inherit;\">Oil markets also retained a geopolitical risk premium<\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, with tensions around the Strait of Hormuz continuing to pose upside risks to crude and LNG flows. Any disruption to LNG supply would likely add further pressure to European gas prices and, indirectly, to French power forwards.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1eb7e5b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1eb7e5b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7de3b4f\" data-id=\"7de3b4f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-200c428 elementor-widget elementor-widget-text-editor\" data-id=\"200c428\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 38px; color: #4bacc6;\"><b>Key news and implications <\/b><\/span><\/h2>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b1b0d7 elementor-widget elementor-widget-text-editor\" data-id=\"6b1b0d7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"none\">Capacity mechanism<\/span><\/b><\/p>\n<p><span data-contrast=\"none\">France\u2019s new centralized capacity mechanism is moving into implementation ahead of the\u00a0<\/span><b><span data-contrast=\"none\">2026\/27 delivery period<\/span><\/b><span data-contrast=\"none\">. The framework is based on\u00a0<\/span><b><span data-contrast=\"none\">Decree No. 2025-1441 of 31 December 2025<\/span><\/b><span data-contrast=\"none\">.\u00a0More recently,\u00a0<\/span><b><span data-contrast=\"none\">Decree No. 2026-771 of 13 August 2026<\/span><\/b><span data-contrast=\"none\">\u00a0introduced\u00a0additional\u00a0technical adjustments, clarifying eligibility and\u00a0remuneration\u00a0under multi-year capacity contracts. The mechanism provides for\u00a0<\/span><b><span data-contrast=\"none\">22 Peak Days during the winter period<\/span><\/b><span data-contrast=\"none\">,\u00a0with capacity remunerated based on availability during periods of system stress. RTE\u2019s preliminary estimate for the 2026\/27 delivery period points to a capacity quotient of around\u00a0<\/span><b><span data-contrast=\"none\">\u20ac18,647\/MW<\/span><\/b><span data-contrast=\"none\">, corresponding to an estimated total mechanism cost of approximately\u00a0<\/span><b><span data-contrast=\"none\">\u20ac1.67bn<\/span><\/b><span data-contrast=\"none\">. When spread across electricity consumption, this would\u00a0represent\u00a0an average cost impact of\u00a0roughly\u00a0<\/span><b><span data-contrast=\"none\">\u20ac4\/MWh<\/span><\/b><span data-contrast=\"none\">\u00a0for end-users.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">Regulated electricity tariffs (TRVE).<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0<\/span><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><span style=\"font-size: 16px;\" data-contrast=\"none\">The\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">2.5% average increase in French regulated electricity tariffs<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0proposed by CRE\u00a0in July\u00a0was formally adopted through the\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">Government Decision of 29 July 2026<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">, published in the\u00a0<\/span><i style=\"font-weight: inherit;\"><span data-contrast=\"none\">Journal\u00a0officiel<\/span><\/i><span style=\"font-size: 16px;\" data-contrast=\"none\">\u00a0on 31 July, and\u00a0<\/span><b style=\"font-style: inherit;\"><span data-contrast=\"none\">entered into force on 1 August 2026<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\">. The increase reflects changes in regulated cost components, including higher network tariffs and the incorporation of the new capacity mechanism into the TRVE cost stack.\u00a0<\/span><span style=\"font-size: 16px;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2148d0f elementor-button-info elementor-align-center elementor-mobile-align-center elementor-widget elementor-widget-button\" data-id=\"2148d0f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/hayaenergy.com\/fr\/mafs_spanish-market-analysis\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Spanish Market Analysis<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7cc19eb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7cc19eb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-b9b890a\" data-id=\"b9b890a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-10c47ee elementor-widget elementor-widget-heading\" data-id=\"10c47ee\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">FR Base Power Price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-690486a elementor-widget elementor-widget-html\" data-id=\"690486a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"FR Base Power price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-vUPVb\" data-src=\"https:\/\/datawrapper.dwcdn.net\/vUPVb\/241\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8c97b5 elementor-widget elementor-widget-heading\" data-id=\"d8c97b5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">EUA price (\u20ac\/Tn)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52c1a7b elementor-widget elementor-widget-html\" data-id=\"52c1a7b\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"EUA price (\u20ac\/Tn)\" aria-label=\"Line chart\" id=\"datawrapper-chart-mXgaA\" data-src=\"https:\/\/datawrapper.dwcdn.net\/mXgaA\/231\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-696301b elementor-widget elementor-widget-heading\" data-id=\"696301b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Spark Spread - Base \u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b20b47a elementor-widget elementor-widget-html\" data-id=\"b20b47a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Spark Spread - Base \u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-SBJPQ\" data-src=\"https:\/\/datawrapper.dwcdn.net\/SBJPQ\/219\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"403\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e7f9cd elementor-widget elementor-widget-heading\" data-id=\"3e7f9cd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Dark Spread - Base \u20acMWh<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5273c8 elementor-widget elementor-widget-html\" data-id=\"d5273c8\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Dark Spread - Base \u20acMWh\" aria-label=\"Line chart\" id=\"datawrapper-chart-Upuw4\" data-src=\"https:\/\/datawrapper.dwcdn.net\/Upuw4\/231\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-9da8151\" data-id=\"9da8151\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d92d4fb elementor-widget elementor-widget-heading\" data-id=\"d92d4fb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">FR Peak Power Price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e2eea3 elementor-widget elementor-widget-html\" data-id=\"1e2eea3\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"FR Peak Power price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-Nbwuq\" data-src=\"https:\/\/datawrapper.dwcdn.net\/Nbwuq\/243\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f799f1 elementor-widget elementor-widget-heading\" data-id=\"0f799f1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">PEG Gas price (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81111cb elementor-widget elementor-widget-html\" data-id=\"81111cb\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"PEGN Gas price (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-ufNBY\" data-src=\"https:\/\/datawrapper.dwcdn.net\/ufNBY\/227\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-790e462 elementor-widget elementor-widget-heading\" data-id=\"790e462\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Spark Spread - Peak (\u20ac\/MWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a75b9c elementor-widget elementor-widget-html\" data-id=\"4a75b9c\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Spark Spread - Peak (\u20ac\/MWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-7gTmm\" data-src=\"https:\/\/datawrapper.dwcdn.net\/7gTmm\/219\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"396\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04e9154 elementor-widget elementor-widget-heading\" data-id=\"04e9154\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Clean Dark Spread - Peak (\u20acMWh)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76179de elementor-widget elementor-widget-html\" data-id=\"76179de\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe title=\"Clean Dark Spread - Peak (\u20acMWh)\" aria-label=\"Line chart\" id=\"datawrapper-chart-6vDz5\" data-src=\"https:\/\/datawrapper.dwcdn.net\/6vDz5\/256\/\" scrolling=\"no\" frameborder=\"0\" style=\"border: none;\" width=\"648\" height=\"403\" data-external=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Key Insights from the French Market Analysis Analysis of the French energy market is key to understanding the dynamics and trends affecting the sector both locally and internationally. In this detailed analysis, we address the important factors influencing energy prices, supply and demand, and the latest regulatory policies. This comprehensive overview will allow you to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - 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