<p>德国一年期电力合约在周五下跌，跟随碳市场的进一步下滑。</p>
<p>德国一年期基载电力合约（TRDEBYZ7）在格林威治时间 0925 时下跌 0.4%，至每兆瓦时 85.89 欧元（102.43 美元），受碳排放许可成本下降的影响。法国对应合约（TRFRBYZ7）未成交，报价为 51 欧元/兆瓦时。</p>
<p>欧洲碳市场的基准合约（CFI2Zc1）下跌 1.2%，至每公吨 82.99 欧元。</p>
<p>Engie 的 EnergyScan 分析师表示，碳价的回落与股票市场的广泛抛售相关。</p>
<p>在现货市场，德国和法国的周一日内基载电力合约（TRDEBD3），（TRFRBD3）尚未开始交易。与此同时，预计德国的风电在周一和周二将有所增加，而需求预计将下降。</p>
<p>LSEG 数据显示，德国的风电发电量预计在周一将增加 6.4 吉瓦，达到 30.5 吉瓦，而法国的发电量预计将下降 1 吉瓦，降至 10.3 吉瓦。</p>
<p>LSEG 分析显示，预计下周风速将在周二达到近 40 吉瓦的峰值，然后稳步下降至周五的约 20 吉瓦。</p>
<p>LSEG 数据显示，预计德国的电力需求在周一将下降 380 兆瓦，降至 65.8 吉瓦，而法国的需求预计下降 2.1 吉瓦，降至 62.6 吉瓦。</p>
<p>法国总理塞巴斯蒂安·勒科尔努周五利用特殊的宪法权力，强行通过其 2026 年预算法案，未经过投票，这可能引发进一步的不信任投票。</p>
<p>法国能源部门也在等待政府表示将在预算法案最终确定后发布的长期延迟的规划法。</p>
<p>（1 美元 = 0.8385 欧元）</p>

全球碳 ETF - KraneShares

<p>德国一年期电力合约下跌 0.4%，至 85.89 欧元/兆瓦时，受到碳价下跌的影响，碳价下跌 1.2%，至 82.99 欧元/吨。法国的同类合约仍未交易。分析师指出，碳市场的下滑与更广泛的股票抛售有关。预计德国的风电发电量将上升，而需求预计将下降。此外，法国总理莱科尔努利用宪法权力推进 2026 年预算法案，这可能导致进一步的政治不稳定</p>

<p>German year-ahead power contracts dipped on Friday, tracking further drops in the carbon market.</p>
<div class="lb-trans"><p>德国一年期电力合约在周五下跌，跟随碳市场的进一步下滑。</p>
</div><p>German year-ahead baseload (TRDEBYZ7) lost 0.4% to 85.89 euros ($102.43) per megawatt hour by 0925 GMT, tracking lower carbon permit costs. The French equivalent (TRFRBYZ7) was untraded with an ask price of 51 euros/MWh.</p>
<div class="lb-trans"><p>德国一年期基载电力合约（TRDEBYZ7）在格林威治时间 0925 时下跌 0.4%，至每兆瓦时 85.89 欧元（102.43 美元），受碳排放许可成本下降的影响。法国对应合约（TRFRBYZ7）未成交，报价为 51 欧元/兆瓦时。</p>
</div><p>The European carbon market's benchmark contract (CFI2Zc1) fell 1.2% to 82.99 euros a metric ton.</p>
<div class="lb-trans"><p>欧洲碳市场的基准合约（CFI2Zc1）下跌 1.2%，至每公吨 82.99 欧元。</p>
</div><p>The carbon retreat is correlated with a broader selloff in equities, Engie's EnergyScan analysts said.</p>
<div class="lb-trans"><p>Engie 的 EnergyScan 分析师表示，碳价的回落与股票市场的广泛抛售相关。</p>
</div><p>On the spot side, German and French day-ahead baseload contracts (TRDEBD3), (TRFRBD3) for Monday had not started trading. Wind power, meanwhile, was seen gaining in Germany on Monday and Tuesday with demand forecast to fall.</p>
<div class="lb-trans"><p>在现货市场，德国和法国的周一日内基载电力合约（TRDEBD3），（TRFRBD3）尚未开始交易。与此同时，预计德国的风电在周一和周二将有所增加，而需求预计将下降。</p>
</div><p>German wind power generation is forecast to rise by 6.4 gigawatts to 30.5 GW on Monday while the French output is projected to fall by 1 GW to 10.3 GW, LSEG data showed.</p>
<div class="lb-trans"><p>LSEG 数据显示，德国的风电发电量预计在周一将增加 6.4 吉瓦，达到 30.5 吉瓦，而法国的发电量预计将下降 1 吉瓦，降至 10.3 吉瓦。</p>
</div><p>LSEG analysis showed that wind speed is expected to reach a peak next week near 40 GW on Tuesday before declining steadily to around 20 GW on Friday.</p>
<div class="lb-trans"><p>LSEG 分析显示，预计下周风速将在周二达到近 40 吉瓦的峰值，然后稳步下降至周五的约 20 吉瓦。</p>
</div><p>Power demand was expected to dip by 380 megawatts to 65.8 GW in Germany on Monday while French demand was seen 2.1 GW down at 62.6 GW, LSEG data showed.</p>
<div class="lb-trans"><p>LSEG 数据显示，预计德国的电力需求在周一将下降 380 兆瓦，降至 65.8 吉瓦，而法国的需求预计下降 2.1 吉瓦，降至 62.6 吉瓦。</p>
</div><p>French Prime Minister Sebastien Lecornu made use of a special constitutional power on Friday to force his 2026 budget bill through the deeply divided lower house of parliament without a vote, which could trigger further votes of no confidence.</p>
<div class="lb-trans"><p>法国总理塞巴斯蒂安·勒科尔努周五利用特殊的宪法权力，强行通过其 2026 年预算法案，未经过投票，这可能引发进一步的不信任投票。</p>
</div><p>The French energy sector was also awaiting long-delayed planning law that the government said would not be published until after the budget bill is finalised.</p>
<div class="lb-trans"><p>法国能源部门也在等待政府表示将在预算法案最终确定后发布的长期延迟的规划法。</p>
</div><p>($1 = 0.8385 euros)</p>
<div class="lb-trans"><p>（1 美元 = 0.8385 欧元）</p>
</div>

德国远期合约因碳价下跌而下滑