Spot contracts are affected by the increase in wind power supply

European spot prices on Tuesday fell by a significant amount on Monday. The average wind output is expected to double across the region.

LSEG data shows that the German day-ahead electricity price was 114.50 Euro per Megawatt Per Hour (MWh) as of 1029 GMT. This is down 36.4% compared to Friday's rate for Monday.

LSEG data shows that the French baseload electricity for Tuesday was 144 euros/MWh. Friday, the contract for delivery on Monday was not traded.

Guro Marie Wyller, LSEG analyst, says that despite a slight increase in the demand for electricity in Germany on a day-to-day basis, residual load is expected to fall on Tuesday due to gains in wind power supply.

She added that the same trend can be expected in France, Netherlands, and Belgium.

LSEG data shows that the German wind power output is expected to increase by 7.4 gigawatts to 12.3 GW on Tuesday, while French output is projected to rise by 1.7 GW up to 3 GW.

The French nuclear capacity fell by four points to 83% as three reactors were taken offline for planned maintenance.

LSEG data shows that power consumption in Germany will increase by 1.8 GW Tuesday to 62.7 GW while France's demand is expected to grow by 2.3 GW up to 70.5 GW.

The German power contract for the year ahead was up by 0.4% to 98.20 Euros/MWh, while French baseload contracts 2026 were up 2% at 69.60 Euros/MWh.

The benchmark contract on the European carbon markets was down 1.6%, at 82.54 Euros per metric ton. Forrest Crellin, Reporting; David Goodman, Editing

(source: Reuters)