German wind energy supply plummets on Monday

The German and French power prices for the following Monday were not traded on Friday. However, a tumbling wind output and a flagging solar output in the entire region was expected to have an upward effect on prices.

LSEG data shows that the German and French baseload power prices for Monday were not traded by 0938 GMT.

Naser Hashemi, LSEG analyst, said that on Monday, wind power production continues to decline in the same downward trend as it did on Sunday and is significantly lower than the Friday output.

The residual load is higher than it was today, and the lower solar power output also contributes to this. This, along with the increased residual load in the area, reinforces a bullish signal.

According to LSEG, the German wind energy output is expected to drop sharply on Monday by 15.7 gigawatts to 2.6 GW. The French wind power output will also plunge, dropping 9.7 GW down to 1.8 GW.

The data indicated that the German solar power production is expected to decline by 3 GW and reach 9.9 GW.

The French nuclear capacity fell by seven percentage points, to 72% total, as three reactors were taken offline for planned maintenance and the Dampierre II reactor was forced offline due to an unplanned shutdown.

LSEG data shows that power consumption in Germany will drop 1.4 GW this Monday to 55.8 GW. In France, demand is expected to fall 160 megawatts to 51.2 GW.

The German 2025 baseload contract increased 1%, to 64.45 Euros/MWh.

The benchmark contract on the European carbon markets rose by 0.2%, to 73.22 Euros per metric ton.

The European benchmark gas price has been falling since early February after reaching two-year-highs. This trend may continue as we approach the traditionally slowest period of gas-fired electricity demand. (Reporting and editing by Shreya biswas; Forrest Crellin)

(source: Reuters)