Spots fall as wind and nuclear power rise
European prompt electricity prices fell on Tuesday, as the wind power supply is expected to increase from levels which caused a rise in previous trading sessions.
"Residual loads are lower, but remain at high levels." In a research report, LSEG analyst Marcus Eriksson said that he expects lower price spikes. He was referring to the volume of supply needed to meet non-renewable source demand.
LSEG data show that German baseload power for the day ahead was down by 22.9% to 175 euros ($188.48), but remained its highest level since June 25.
The equivalent French contract had a 10.1% discount at 107 Euros/MWh. This was a record high for 13 months.
The combination of higher demand, as temperatures have dropped in line with season, and low wind and solar volume has pushed prices to multi-month heights. Prices are now easing a little because of supply factors.
The French nuclear capacity has increased by two percentage points, to 79%.
The German wind energy output is expected to increase by 1.2 gigawatts per day to 1.8 GW. Meanwhile, the French supply will almost triple to 3.0 GW.
On Thursday, electricity usage is expected to drop by 900MW in Germany to 57.5GW. In France, demand is expected to fall 200MW to 51,2GW as temperatures remain relatively flat.
The curve shows that the German baseload contract for 2025 has fallen 2.1% to 70 euros/MWh.
The dollar surged as Donald Trump was projected to win the U.S. Presidential election. This would mean a blow for the clean energy market.
The European CO2 allowances in December 2024 fell 1.5% to 63.36 euro per metric tonne. ($1 = $0.9285 euros)
(source: Reuters)
