German spot prices fall on the back of a wind forecast, while French prices increase on demand
On Thursday, the European spot electricity prices were mixed. Germany's fell on expectations of increased wind power generation, while French prices rose due to projected higher consumption.
The LSEG report also identified the increased solar power and brown coal generation as factors affecting market.
German baseload power fell 35.4% to 114.8 euros (123.50 dollars) per megawatt-hour (MWh) by 1035 GMT. This is down from the five-month-highs reached this week.
The French equivalent contract increased by 4.3% to 109 euros/MWh.
The French nuclear capacity remained at 79%.
The German wind energy output is expected to increase by 1.2 gigawatts per day (GW) to 1.7 GW, while the French supply will almost triple to 3.0 GW.
The German electricity demand is expected to drop by 400 MW on Friday to 58.1 GW, while the French demand will fall by 200 MW at 51.6 GW due to the flat temperatures.
The German baseload contract for 2025 increased by 2.4%, to 88.4 Euros/MWh. In France, the baseload contract for 2025 has increased by 2.4%, to 73.7 Euros/MWh.
The European CO2 allowances in December 2024 increased by 2.5% to 65.38 Euros per metric tonne.
Investors in clean energy in Europe are worried about a possible dismantling by the United States of support for renewables, and climate policy following Donald Trump's U.S. victory.
Utility RWE stock rose following a report in the media that said hedge fund Elliott had built up a substantial investment and was pushing for a buyback of shares, something Elliott denied.
Solarwatt, which provides photovoltaic systems for homes, heat pumps and batteries, as well as inverters, inverters, and chargers for electric cars, announced that a bidirectional wall box bearing the BMW logo will be available in January 2025. Reporting by Vera Eckert, Editing by David Goodman. $1 = 0.9295 Euros
(source: Reuters)
