German Spot Falls on Stronger Wind Output
German spot electricity prices for Thursday dropped as the wind forecasts are lower, and the demand is expected to be lower. The French price increased on higher demand after Tuesday's holiday.
German baseload for the day ahead fell 10.3%, to 70.40 Euros ($82.10) per megawatt-hour (MWh), by 0956 GMT.
The French baseload for the day ahead was up by 38.9% to 31.25 Euro/MWh.
LSEG data indicated that German wind power production was expected to increase by 4.1 gigawatts on Thursday to 30 GW. Meanwhile, French wind power is expected to decrease by 1.8 GW at 9.8 GW.
LSEG analyst Xiulan said that the signal for Germany is negative, as it is characterized by lower consumption, higher wind supply and an increase in residual load. In France, Belgium, and the Netherlands there is a similar trend.
The French nuclear capacity has increased by one percentage point, to 76%.
LSEG data show that the power demand in Germany fell by 1.1 GW, to 60.2 GW, on Thursday. In France, consumption increased by 1.7 GW, to 49.7 GW, as demand continued to increase following Tuesday's Armistice Day holiday.
Analysts at Engie EnergyScan said that warm conditions are continuing to prevail in the region. They expect this condition to continue through the week and will reduce power demand significantly.
The forecasts for next week have been revised down. They expect temperatures to be below the seasonal norms, and there will be a difference of almost 10 degrees Celsius in temperature between this week and the next.
The German baseload for the year ahead rose by 0.9% to 89.70 Euros/MWh. The French 2026 baseload remained untraded, after Tuesday's close of 52.65 euro/MWh.
The benchmark European carbon permits increased 1.5%, to 81.82 Euros per metric ton.
RWE, Germany’s largest electricity producer, has reported a higher-than expected profit for the nine-month period of the year. This was boosted by the sale of an old coal-fired plant site in Britain, which is now a data center project. Reporting by Forrest Crellin, Editing by Harikrishnan Nair. $1 = 0.8575 Euros
(source: Reuters)
