Surveillance and Functioning of the Wholesale Electricity and Natural Gas Markets in 2024 (CRE)

Summary

• In 2024 the CRE monitored 15.1 million transactions on wholesale electricity and gas markets, covering 3,704 TWh traded.p.12
• The value traded exceeded 181 billion euros (-14% versus 2023).p.12
• The average French day-ahead electricity price was 57.8 EUR/MWh, down 40% from 2023.p.12
• The average French day-ahead gas price was 34.0 EUR/MWh, down 15% from 2023.p.12
• France recorded an exceptional net electricity export balance of 89 TWh, or about 5 billion euros.p.2
• Temperature-corrected electricity consumption reached 441 TWh in 2024, up 0.7% from 2023.p.6

Key insights

1. The CRE's REMIT scope covered 15.1 million transactions, more than 3,704 TWh traded and 181 billion euros in value in 2024.p.3
2. The number of transactions kept rising, with +30% between 2023 and 2024, challenging effective market surveillance.p.3
3. A record 352 hours of strictly negative electricity prices were observed in 2024.p.6
4. French LNG terminal utilisation fell from 65% in 2023 to 50% in 2024, yet France hosted 24% of European LNG imports.p.5
5. The cost of the localised spread mechanism fell to about 1.5 million euros in winter 2024-2025 from 9.6 million euros in winter 2023-2024.p.5
6. Electricity consumption stood at 441 TWh in 2024, a slight rise of 0.7% and the first increase since 2021.p.6
7. About 630 alerts relating to 2024 were analysed by the CRE and 12% of them required further action.p.16
8. Six REMIT investigations were opened by the CRE in 2024.p.14