German spot price Monday is impacted by higher wind supply
On Monday, a surge in wind energy generation in Germany will offset a reduction in solar output to drive down baseload electricity prices.
LSEG data shows that the German and French baseload power contracts TRDEBD3,TRFRBD3 had not been traded by 825 GMT Friday.
LSEG data revealed that the day-ahead contracts were closed at 57 euros/MWh on Thursday and 16.4 euro/MWh on Friday.
Marcus Eriksson, LSEG analyst, predicted that a'very small' residual load in Germany - the amount left to be produced from traditional power plants once wind and solar have been used – would result in negative prices for several hours Monday.
LSEG data shows that German wind power production is expected to increase by 11.6 gigawatts to 37.6 GW Monday. French wind power is forecast to grow by 3.1 GW from 10.6 GW.
The German solar energy supply is expected to drop by 1.5 GW, to 11.3 GW.
On Monday, power consumption in Germany will drop by 950 megawatts to 52.2 GW. In France, demand is expected to decrease by 1 GW to 41 GW.
The French nuclear capacity remained at 79%.
The German and French power contracts for the year ahead TRDEBYZ6 and TRFRBYZ6 each fell 0.5%, to 85.95 euro ($100.80), and 58.6 euro per megawatt-hour (MWh).
The benchmark contract on the European carbon CFI2Zc1 market fell by 0.2%, to 75.36 Euros per metric ton.
(source: Reuters)
