German spot prices are affected by the rising wind supply
The German spot electricity price for Wednesday dropped on Tuesday due to the expected increase in wind power supply, while the French price increased as the nuclear availability decreased with an unplanned interruption.
LSEG data show that German baseload day-ahead power fell 11.5% to 81.50 Euros ($89.55 per megawatt hour) at 0928 GMT.
The equivalent French contract increased by 26.1%, to 35 euros/MWh.
According to LSEG analyst Marcus Eriksson, residual load in Germany is expected to decrease on Wednesday due mainly to a stronger wind supply. Imports are also expected for Germany.
He added that the Netherlands and France also have a higher residual load, but they are both expected to be net exporters.
The data revealed that the German wind energy output will increase by 5.1 gigawatts to 20.2 GW and French production is expected to grow by 480 megawatts to 9.9 GW.
The French nuclear capacity fell by one percent to 69% after the unplanned shutdown of Belleville 1, a reactor.
Operator EDF reported that the Belleville 1 reactor was shut down on Monday night after a turbine in the non-nuclear area of the plant activated.
LSEG data show that power consumption in Germany will drop by 1.1 GW this Wednesday to 56.8 GW while French demand should increase by 380 MW, to 46.2 GW.
The German power contract for 2025 was down 0.7% at 71.50 Euros/MWh, while the French baseload contract dropped by 0.7% to 85.45 Euros/MWh.
The European CO2 allowances in December 2024 dropped by 2.2%, to 60.38 Euros per metric ton.
Ingvild Sörhus, Veyt analyst, believes that a strong renewable energy production in the middle of the week could reduce the need for emissions intensive power generation. This, combined with a bearish outlook on the technical side, may lead to a decrease in carbon prices. ($1 = 0.90101 euros) (Reporting and editing by Krishna Chandra Eluri).
(source: Reuters)
