Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and problems with power generation equipment. EPEX spot data revealed that the average "baseload" price for Germany was 90.44 euro ($105.31), while France's price was 87.35 euro/MWh at 1207 GMT. LSEG data showed that this is higher than the closing spot price on Thursday of 74.75 euro/MWh or 67.75 euro respectively. Sabrina Kernbichler…
French spot is a clear winner over surging wind power
European prompt electricity prices fell on Friday as more sunshine and gusty winds were predicted and nuclear'supply increased amid icy weather conditions. Winter weather in Europe is severe, disrupting air, rail and road traffic, as well as some business operations. According to LSEG Research, Germany's residual loads will decrease in the days ahead, resulting in a lower demand for thermal plants. LSEG data show that French day-ahead basisload was 70 euros per megawatt at 0925 GMT. This is down 36.8% compared to the close.
South Africa relaxes antitrust rules for companies facing high electricity costs
South Africa has loosened its antitrust regulations to allow firms battling high energy costs to build energy infrastructure together and negotiate contracts collectively. In a government announcement seen by on Tuesday, South Africa's Trade Minister Parks Tau stated that the new measure was meant to help?distressed industry. The Minerals Council of South Africa says that electricity costs have increased by over 900% in the last five years. High power prices are a major problem for smelters and steelmakers, especially in Africa's most developed economy.
Cold weather increases prompt prices due to a fall in renewable supplies
The European spot electricity prices increased on Wednesday, as the cold weather prompted demand for heating and illumination and a fall in solar and wind power production was expected. The Atlantic coast of Europe was hit by the first named storm of the year, causing more snow and ice to fall. LSEG data and that of the French utility EDF indicated that Germany would be importing electricity on a day-to-day basis, but France's wind and nuclear power would increase.
Wind power surge cuts spot prices but frost-related demands lend support
The European prompt power price fell on Tuesday, ahead of a near-tripling of German wind power expected on Wednesday and a more-than-doubling of French wind energy volumes. However, the prices remained relatively high as icy weather?supported?demand. The LSEG analyst Naser Hazemi wrote that "higher wind energy generation leads to a lower residual load on several markets, including Germany." He was referring to fewer thermal plant requirements. He added that "demand is expected in many countries to increase".
German spot prices rise as output of renewable energy falls
German day-ahead electricity prices increased on Monday, as the expected decrease in renewables generation offset an anticipated decline in demand. LSEG data shows that German baseload day-ahead was up?38.9% to?123 Euros ($143.70 per megawatt hour) at 0944 GMT. Data showed that the equivalent French price had risen by 35.2%, to 121 Euros. Naser Hashemi of LSEG, a LSEG analyst, predicted that residual load in Germany will be almost 10 GWh/h more than the previous day, until about 5 p.m.
Prices on Monday will rise due to higher demand and reduced wind energy generation
The European day-ahead electricity prices will likely rise on Monday due to a?increased consumption and a sharp decline in?wind energy generation. LSEG data shows that the German and French 'Monday' baseload power contracts had not been traded by 8:27 GMT on Friday. LSEG data showed that German wind power production is expected to fall by 35.9 gigawatts to 14.2 GW on Monday. Meanwhile, French wind power is expected to?fall by 4 GW and 3.4 GW. Xiulan 'He, a LSEG analyst, said: "Monday’s outlook is bullish.
French electricity prices drop as wind power increases
On Monday morning, the French spot day-ahead power price fell on expectations of increased wind power production. In Germany, however, prices are rising due to less wind output. LSEG data shows that the French baseload day-ahead power price was 85.50 Euros per megawatt 'hour' at 0954 GMT. The spot auction for French baseload power on Monday settled at 94.47 euro/MWh. According to LSEG, the German day-ahead contracts had not yet traded. Baseload power?for Sunday's auction at Epex settled at 94.35 euro/MWh.
Spot prices fall on the back of low demand before holidays
European prompt electricity prices fell on Tuesday due to a combination of?rising renewables output, high French nuclear power supply and weak consumption before Christmas holidays. In a research report, Riccardo Paraviero, LSEG's analyst, said that the outlook for tomorrow is "undoubtedly" bearish due to a significant drop in demand as compared with the previous week. LSEG data showed that German baseload for the day ahead was down by 26.9% to?57 euros ($67.19 per megawatt-hour (MWh)? at 0910 GMT.
Prices fall despite short-term bullish factors
The European spot electricity prices fell on Tuesday despite lower renewables and nuclear supplies and an increase in consumption?in France - as demand decreased across the region. LSEG analysis identified increasing thermal power as a market factor, which?overall?worked to bring down levels in Germany & France. LSEG data shows that the French baseload day-ahead was priced at 95 euros ($99.88 per megawatt hour) at 0940 GMT. This is 4% lower than at the previous close. The German equivalent price dropped 1.6% to 106.8 Euro/MWh.
Prices to rise on Monday due to wind power
European electricity prices will likely fall dramatically on Monday as wind power production is expected to increase in Germany and other parts of the region. LSEG data revealed that German -and French Monday baseload electricity contracts were not traded by?0859 GMT Friday. LSEG data shows that German wind power production is expected to increase by 12.3 gigawatts on Monday to 21.1 GW. French wind power is also projected to grow from 6.7 GW up to 9.7 GW.
Prices rise dramatically on lower wind volume
The European spot electricity prices rose on Wednesday due to forecasts of lower wind power generation, which overrode?effects from slightly higher solar power and nuclear power output. In a research note for the day ahead, LSEG analyst Xiulan said that "the signal?is bullish" for Germany. He added that France is also affected by this wind downturn. According to LSEG data, the price of French baseload electricity for delivery on Thursday was 17.4% higher than at 1000 GMT at 75.2 Euros ($87.53 per megawatt-hour (MWh).
Prices to be affected by Monday's warm and windy weather
The European electricity prices will likely fall dramatically on Monday due to the expected surge in wind power production in Germany. Meanwhile, warmer weather is sending demand down in France. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1008 GMT on Friday. LSEG data shows that German wind power production is expected to increase by 23.2 gigawatts on Monday to 28.8 GW. French wind power is forecast to grow 4 GW to 10,7 GW.
Reduced wind output increases power prices
The European day-ahead electricity prices rose on Thursday, compared to the previous session. This is because wind generation in the region is expected decrease. Riccardo Paraviero, LSEG analyst, said that the fundamental outlook for Germany has changed again to a tighter one. This is primarily due to the decreasing supply of wind energy. He added that conditions are similar across the rest the region. The French and Dutch residual loads will rise dramatically.
Merafe starts layoffs after proposal for electricity tariff fails to save South African Smelters
Merafe Resources announced on Tuesday that its chrome joint venture, with Glencore, has started formally laying workers off after a proposal for an electricity tariff failed to ensure the viability of two South African ferrochromesmelters. According to Glencore's estimates, South Africa has approximately 80% the known world chrome ore reserves. This makes the country a major player in the global ferrochrome industry. In May, however, power outages…
Spot prices increase on lower wind output
The European spot electricity prices rose on Tuesday as the wind generation output is expected to decline in France and Germany. LSEG data shows that the German baseload day-ahead power price at 0943 GMT was 102.50 Euros ($119.09 per megawatt-hour), up 9.7% on Friday's closing price for Monday delivery. Data showed that the equivalent French price for Monday delivery was 82.25 Euros/MWh. This is a 5.4% increase from the Friday price. LSEG data indicated that on the supply side German wind power output was expected to decline by 1.3 gigawatts…
French prompts to be cut by more than half due to forecasted weaker demand
The French spot electricity prices fell on Friday on the back of forecasts for higher temperatures and a stronger wind supply. Germany's prices, however, were not traded but were bid lower. LSEG’s day-ahead analyses cited a lower residual load overall in Germany, which meant fewer thermal plant requirements, with some intraday variations. LSEG data indicated that the electricity demand for the day ahead will probably fall by 1.8 gigawatts to 63.4 GW in Germany, and by 5.3 GW to 62.5 GW in France.
German prices are still high, but they have fallen in France.
The cold weather boosted the prices of France's power contracts, which are based on prompt delivery, in wholesale trading Tuesday. Germany's prices, however, fell, but remained nearly twice as high as their French equivalents. In recent days, low temperatures and a decline in wind power have increased electricity prices and caused them to be volatile. This is due to the weather-driven fluctuations in renewable output. Naser Hashemi, LSEG analyst…
After 0.2% price cap increase, energy bills for most Britons are on the rise
The regulator Ofgem has announced that it will increase its domestic price caps by 0.2% in January, due to increased policy costs. The government will suffer a setback, even though the increase is small. It has promised to lower energy prices, and it faces pressure next week to unveil budget measures to help reduce household bills. The increase is due in part to an addition of nearly one pound per bill to pay for the new Sizewell nuclear plant, which is estimated to cost around 38 billion pounds ($50billion).
Colder weather increases demand for spot prices
The European spot electricity prices rose for Tuesday on the expectation that colder weather forecasts will increase demand for heating. LSEG data shows that the German baseload day-ahead power price at 0846 GMT was 103.55 Euro per megawatt-hour, an increase of 9.3% over Friday's closing price for Monday delivery. Data showed that the equivalent French price for Monday delivery was 92 euros/MWh. This is 44.7% higher than the Friday price. LSEG analyst Xiulan He said that residual load was higher in the entire region due to the lower wind power output…