German Monday spot prices up on lower renewable supplies

German spot electricity prices for Monday increased as wind and solar power supply was expected to decline.

LSEG data shows that the German Monday baseload electricity price at 1028 GMT was 104.75 Euros per megawatt-hour. This is 16% higher than the Friday price.

The French equivalent contract was not traded.

Riccardo Paraviero, LSEG analyst, says that residual load will increase on Monday due to the fall in solar power supply. French nuclear capacity is also expected to increase 5.1 GW compared with last Monday.

LSEG data shows that the German wind output will drop from Friday's 9.6 GW to 9.6 GW Monday. The French output, meanwhile, is expected to fall 180 megawatts to 4.2 GW.

On Monday, the German solar power supply will likely drop from 5.6 GW to 1.6 GW.

According to LSEG, the wind power forecast for Tuesday and Wednesday is expected to rise to 14 GW and then to 16 GW by Thursday and Friday.

The French nuclear capacity has increased by one percentage point, to 74%.

On Monday, Germany's power consumption is expected to drop by 440 megawatts to 54.6 GW. In France, demand is expected to drop by 1.7 GW to 42.80 GW.

The German baseload for 2025 increased by 0.4%, to 86.99 Euros/MWh. In comparison, the French equivalent was down by 0.5% at 72.55 Euros/MWh.

The price of European CO2 allowances expiring in December 2024 fell by 0.2%, to 65.34 Euros per metric ton. (Reporting and editing by Tasim Zaid; Forrest Crellin)

(source: Reuters)