German Monday contracts are affected by the increase in wind power supply

German spot electricity prices for Monday dropped on Friday, as the wind generation in that region is expected to be higher than usual next week. However, power demand will also rise.

LSEG data shows that the German contract price was 90 euros per Megawatt-hour (MWh), down 26.8% compared to the price paid on Friday.

LSEG data revealed that the equivalent French contract was not traded.

Guro Marie Wyller, LSEG's analyst, said that Monday is likely to see a further increase in wind power production following a surge over the weekend in Germany and neighboring countries.

LSEG data shows that the German wind output on Monday is predicted to be 30.4 gigawatts, up 16.9 GW compared to Friday. The French output will rise 6.3 GW - to 8.3 GW.

On Monday, the German solar energy supply is expected to drop by 270 megawatts to 2.5 GW.

LSEG's analysis shows that wind power production is expected to drop next week but remain high, with a peak of around 40 GW Wednesday.

The French nuclear capacity remained unchanged at 82%.

On Monday, Germany's power consumption is expected to drop 710 megawatts to 59.3 GW. In France, demand is expected to increase 630 megawatts to 58.6 GW.

The German baseload for 2025 fell by 0.3%, to 94.25 Euros/MWh. In France, the bid-ask spread was between 74.10 euros/MWh and 82.70.

The price of European CO2 allowances expiring in December 2024 fell by 1.8%, to 67.05 euro per metric ton. (Reporting and editing by Kim Coghill; Forrest Crellin)

(source: Reuters)