German Monday spot prices rise as renewables supply plunges
The German spot electricity price on Monday rose as wind and solar supplies were expected to drop by over half compared to Friday's level.
LSEG data shows that the German Monday baseload electricity price was 110 euros ($122.30 per megawatt-hour) at 0850 GMT. This is up 39.2% compared to the Friday price.
The French equivalent contract was not traded.
Marcus Eriksson, LSEG analyst, said: "With reductions in solar power production and a large drop in the wind supply on Monday compared to Friday,"
LSEG data shows that German wind power production is expected to fall by 12.4 gigawatts from Friday to 11 GW on Monday while French output will jump 7.6 GW up to 9.4 GW.
On Monday, the German solar power supply will drop from 6.8 GW down to 4.8 GW.
According to LSEG, the wind power forecast for Tuesday and Wednesday is expected to reach over 20 GW before dropping to 12 GW.
The French nuclear capacity has increased by one percentage point, to 72%.
On Monday, power consumption in Germany will drop by 1.1 GW and reach 55 GW. In France, demand is expected to drop by 1.7 GW and reach 41.6 GW.
The German baseload for 2025 increased by 1.7%, to 91.45 Euros/MWh. In comparison, the French equivalent was up by 1.4% at 77.85 Euros/MWh.
The price of European CO2 allowances expiring in December 2024 rose by 1.5%, to 67.18 Euros per metric ton.
(source: Reuters)
