Spots at one-month's highs on German solar, wind downturn
The European prompt electricity prices on Tuesday rose to their highest level for four weeks, mainly due to the expected sharp drop in German green energy output and temperatures below zero.
Tomorrow, the German wind power supply will decrease dramatically. "With increasing demand and decreasing output of solar power, this leaves a high residual load that must be covered by conventional resources," said LSEG Analyst Guro Marie Wyller.
She added that the availability of coal generation will increase, while gas is expected to decline.
The French baseload power price for Tuesday at 838 GMT was 159 euros (163.12) per megawatt-hour (MWh), up 13.2% on its previous closing and at its highest level since December 12.
The German day-ahead Power was 226 euros at its highest level since December 11.
LSEG data indicated that the German wind power production was expected to drop to 10.3 gigawatts on Wednesday from the 26.5 GW predicted for Tuesday.
German solar production is expected to drop from 3.5 GW to 1.1 GW.
The French nuclear capacity has increased by one percentage point, to 88%.
On Wednesday, power consumption in Germany was predicted to increase by 200 MW from 65.1 GW. In France, it was forecast to drop by 2.1 GW down to 75.7 GW.
The average temperature in both countries is currently minus 0.5 degree Celsius. However, it should rise by 2 to 3 degrees Celsius by Wednesday.
The German baseload contract for 2026 was not traded after it closed at 70.8 euros, while the French baseload contract for 2026 was also untraded.
The benchmark European carbon permits fell 0.2% to 76.79 Euros per metric tonne.
Sources told.
(source: Reuters)
