German wind power generation on the rise: Spot prices drop

German wind power is expected to double in supply on Tuesday, causing the European spot electricity prices to fall on Monday.

German baseload electricity for Tuesday, at 0904 GMT was 58.45 Euros ($64.58 per megawatt-hour (MWh), down 50% from Friday's price for Monday's delivery.

LSEG data revealed that the equivalent French contract was 37.65 Euros/MWh. On Friday, the Monday price was not traded.

Marcus Eriksson, LSEG analyst, forecasts that residual load will fall in Germany Tuesday. Imports are forecast for the morning, and exports in the afternoon.

LSEG data indicated that the German wind output is expected to increase by 12.9 gigawatts to 26 GW on Tuesday, while French output will drop by 1.5 GW at 7.7 GW.

The data revealed that the German solar energy supply is expected to increase by 470 MW, to 3.3 GW.

On Wednesday, the power generated by German wind turbines will likely fall to around 19 GW and 8 GW.

The French nuclear capacity fell by one percent to 71% after an unplanned outage at the Golfech 2 reactor.

EDF reported that the Golfech 2 reactor automatically stopped, which triggered the steam discharge system within a non-nuclear portion of the unit. EDF said that it is currently conducting checks to identify the cause.

The data indicated that the power consumption in Germany was expected to increase by 1.5 GW on Tuesday to 56.5 GW and French demand by 2.1 GW up to 44.2 GW.

The German power for the year ahead was down by 0.7% to 89.90 Euros/MWh, while its French counterpart, Cal '25 was untraded at 76 Euros/MWh.

The price of European CO2 allowances expiring in December 2024 fell 0.3%, to 66.31 euro per metric ton. $1 = 0.9051 Euros (Reporting and Editing by David Goodman).

(source: Reuters)