German wind power supply plummets on Monday

The European electricity price for Monday was untraded Friday. German wind production is expected to drop by 70%, while solar production will also be down.

LSEG data show that there were no transactions for German or French Monday baseload electricity prices at 1042 GMT. The German contract had a bid of 95 euros ($105.61 per megawatt-hour) in the German contract.

Naser Hashemi, LSEG analyst, stated that although demand was down in Germany Monday, residual loads were increased due to a lower wind supply.

LSEG data show that German wind power production is expected to drop from Friday's 18.2 GW to 8.4 GW by Monday, while French output will fall 5 GW to 2.2 GW.

On Monday, the German solar power production is expected to drop by 2.2 GW and reach 11.9 GW.

LSEG's analysis shows that wind power is expected to drop to just below 8 GW Tuesday, before rising to 11 GW Wednesday.

The French nuclear capacity remained unchanged at 71%.

On Monday, power consumption in Germany will drop by 670 megawatts to 52.3 GW. Demand in France will remain mostly unchanged at 41 GW.

The bid price for the German baseload 2025 position fell by 0.2%, to 95.09 Euros/MWh. In comparison, the French equivalent was 79.90 Euros.

The European CO2 allowances expiring in December 2024 fell 0.8%, to 70.98 Euros per metric ton.

(source: Reuters)