On Monday, expect a higher German wind output
German and French power prices were not traded on Friday for the Monday. German wind power is expected to increase against a decline in average demand across the region. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0934 GMT. LSEG data indicated that the German wind output is expected to increase by 4.7 gigawatts to 27.1 GW while French output is projected to drop by 1.4 GW at 9.3 GW. The French nuclear capacity remained at 80%.
EU wants more US gas and renewable energy to replace Russian supplies
The EU energy commissioner said that the EU will look to other countries, including the U.S., to supply more gas to replace Russian supplies and to expand renewable energy to reduce its reliance on fuel. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. Despite a decline in Russian pipeline gas supplies, the EU increased imports of Russian natural gas liquefied last year. Jorgensen stated that Brussels is preparing to change the rules for allowing renewable energy to be built faster.
DTE Energy's capital expenditure plan is increased, but the fourth-quarter profits are lower due to lower rates
DTE Energy increased its five-year plan for capital expenditures by $5 billion, on Thursday. The utility had posted a decline in the fourth quarter profit due to lower electricity prices. U.S. utilities are increasing their capital expenditure plans in order to upgrade the electric grid and lines to meet the needs of power-hungry industries. DTE announced that it will spend $30 billion in its five-year plan to improve grid stability and transition to cleaner energy. DTE said that the plan could also support incremental data center investments.
DTE Energy reports a fall in profit for the fourth quarter on lower rates
DTE Energy announced a decline in its fourth-quarter profits on Thursday. The utility was hit by lower electricity prices. Regulations regulate utilities to establish the price that customers will pay for natural gas and electricity. DTE filed a rate case in order to reduce the cost of electricity production. Utility said it had saved $300 million on fuel and transportation after the rate case was implemented in November. It also cut the residential electricity rates by about $5 per month.
Britain launches offshore Wind Farm Incentives Scheme
The UK launched an incentive programme for offshore wind projects on Thursday, hoping to convince developers to invest in order to achieve the ambitious goal of decarbonising its energy system by the year 2030. The Clean Industry Bonus scheme will give successful bidders an initial funding of 27 million pounds (33.5 million dollars) for each gigawatt (GW), or capacity, from offshore wind project. In December, Britain announced that it hoped to increase capacity from 15 GW to 43-50 GW within the next decade.
Prices fall quickly on the expected increase in German wind energy supply
The European spot electricity prices dropped on Thursday, as LSEG data predicted that German wind energy generation would triple in the next day. LSEG's analysis said that lower thermal availability was also bullish, but that the demand in the region is expected to decline day by day. French baseload for tomorrow's day fell 10.8%, to 130 euros ($134.75 per megawatt-hour (MWh) at 0905 GMT. The German equivalent fell by nearly 23% to 117.8 Euros.
Clean energy companies pressure US lawmakers to protect subsides
On Wednesday, U.S. clean energy companies will be heading to Capitol Hill to urge Republican legislators not to eliminate lucrative tax credits that are contained in the landmark climate change legislation of former president Joe Biden. Members of Congress of both parties are being met by hundreds of representatives of firms from the solar, wind, and other renewable energy sectors to promote their role in creating employment and investment, as well as lowering electricity prices and meeting the soaring demand for power from data centers.
German spot prices are affected by higher wind output
The spot electricity prices in Germany fell on Tuesday, as the wind power generation expected to increase. At 0902 GMT, the German power price for the day ahead was down 1.7% at 142.0 Euros per megawatt-hour. LSEG data shows that the French baseload rate for the day was 143.5 euros/MWh. This is a 0.4% decrease. On the supply-side, Germany's wind output was expected to increase by 3.9 gigawatts up to 16.2 GW. French wind power output is expected to drop by 230 megawatts per day to 2.8 GW.
Falling temperatures and lower wind boost spot prices
The European spot electricity prices rose on Thursday due to lower wind production across wholesale markets in Europe and higher usage in France. This market is more exposed to the electric heating demand during winter. Guromarie Wyller, LSEG analyst, said: "France... The German baseload day-ahead at 0925 GMT increased 1.1% over the previous close, trading at 139.0 Euros ($144.63). The French equivalent for Friday delivery increased 16.4% to 128 Euros/MWh.
French spot prices increase on lower wind output
The French prompt electricity prices surged Tuesday due to a drop in supply of wind power and a slight increase in demand. At 1026 GMT on Tuesday, the French baseload power rose by 81.1% and was trading at 67 euros ($69.89). The German equivalent had yet to trade. LSEG data indicated that the German wind power production was expected to increase by 850 Megawatts (MW) to 30.7 gigawatts. In France, wind output is expected to drop 5.5 GW down to 11.7 GW. The data revealed that German solar production is expected to grow by 760 MW, to 3,0 GW.
French prompts on increasing demand as temperatures drop
The French spot electricity prices rose on February 2nd on the back of increased demand on the weather-exposed wholesale markets, as well as a reduction in wind generation and a tightening of nuclear supply in the country. LSEG data show that the French power price for the day ahead was 70.5 euros ($73.51 per megawatt-hour (MWh) as of 0855 GMT. This is up 90.5% compared to a day before. The German baseload was not traded for the next day, after closing at 103.8 Euros, which is a significant premium to France.
EIA expects higher wholesale electricity prices in the U.S. by 2025
The U.S. Energy Information Administration forecasts higher wholesale electricity prices in 2025 for all regions of the United States, except Texas and Northwest. In a report released on Monday, the EIA stated that wholesale power prices may average $40 per Megawatt Hour (MWh) in 2019. This would represent 7% more than 2024. The EIA predicted that the average cost of electricity in U.S. households would rise by 2% without accounting for inflation.
Leading think tank: Wind is best for Sweden to achieve its climate goals.
A leading think-tank said that the cheapest way to help Sweden meet its projected rise in electricity demand and achieve net zero emissions by the year 2045 would be to build more wind farms onshore rather than increasing nuclear power plants. The Swedish government wants to build 10 new nuclear plants by 2045, as the transport and industrial sectors are moving away from fossil fuels. Demand for electricity will also increase to 300 Terawatt Hours (TWh), up from 135 Terawatt Hours in 2023.
Spot prices dip on more solar power, lower demand
European prompt electricity prices fell on Thursday, as a combination of a growing solar supply and lowered demand was expected to offset a decline in wind supply. As of 1018 GMT, the German baseload electricity for Friday fell 4.4% to 147.75 Euro per Megawatt Hour (MWh). The French baseload for the day ahead was down by 0.9% to 140.75 Euros. LSEG data shows that the German wind output will fall by 1.9 gigawatts to 8.7 GW this Friday. In France, it is predicted to drop 2.8 GW down to 1 GW.
As demand falls and supply increases, prompt prices will fall.
The European spot electricity prices dropped on Wednesday, as the demand for power in Europe declined while wind and nuclear power increased. LSEG data revealed that French consumption would fall as temperatures rise in a country which relies heavily on electric heating during winter. By 1100 GMT, the French baseload for Thursday had fallen 8.3% to 141.30 Euros ($145.62). In Germany, baseload for Friday was down almost 33% at 154.50 Euros. LSEG data indicated that the German wind power output would remain at around 11 gigawatts on both days.
Spots at one-month's highs on German solar, wind downturn
The European prompt electricity prices on Tuesday rose to their highest level for four weeks, mainly due to the expected sharp drop in German green energy output and temperatures below zero. Tomorrow, the German wind power supply will decrease dramatically. "With increasing demand and decreasing output of solar power, this leaves a high residual load that must be covered by conventional resources," said LSEG Analyst Guro Marie Wyller. She added that the availability of coal generation will increase, while gas is expected to decline.
Prices on wind power are increasing.
The European spot electricity prices increased on Tuesday, with the wind generation forecast to drop sharply in the next day while solar production was negligible.LSEG analyst Francisco Gaspar Machado stated that solar production and wind power output were both below normal. He also noted that a decline in German gas availability was supporting the bullish momentum on the market.The price of French baseload electricity for Wednesday rose 42.6%, to 103 euros ($107.20 per megawatt-hour (MWh) by 0835 GMT.The German baseload for the day ahead was not traded…
Constellation wins $1 billion contract to supply nuclear energy to the US government
Constellation Energy announced on Thursday that it had been awarded contracts worth a record-breaking $1 billion to supply nuclear energy to the U.S. Government. As part of an agreement with the U.S. General Services Administration, Constellation, America's largest nuclear power plant operator, will provide electricity to over 13 federal agencies. The GSA estimated the contracts will begin on April 25 and include over 10 million Megawatt-hours of electricity over a period of 10 years, which is equivalent to powering over 1 million homes each year.
Pennsylvania Governor complains about PJM power market rules to regulator
Pennsylvania Governor Josh Shapiro has filed a complaint against PJM Interconnection with a federal energy regulatory agency on Monday. He argues that the U.S.'s largest power grid operator, PJM Interconnection, must change their market rules to avoid escalating electricity prices. PJM Interconnection has been under increased scrutiny since July when it announced that its annual capacity auction will result in record-high payment to power plants within its system.
Spot prices fall on forecast of strong wind supply
The European spot electricity prices fell on Wednesday as the wind supply is expected to increase throughout the region and demand to fall in France due to warmer temperatures. LSEG data show that the German baseload day-ahead power dropped 38.2% at 0923 GMT to 57.75 Euros per Megawatt Hour (MWh). LSEG data shows that the equivalent French contract is down by 40.5%, at 59.5 Euro/MWh. According to LSEG analyst Francisco Gaspar Machado, the outlook for Wednesday is negative due to an increased supply of wind power in Germany.
