German spot prices to rise due to falling wind supply
The German baseload electricity prices will likely rise next week due to a reduction in wind energy generation of more than half the current output. This is expected to offset a decrease in consumption.
LSEG data shows that the German and French Monday basis power contracts were not traded by 0809 GMT.
The German wind output is expected to drop by 6.4 gigawatt-hours per hour (GWh/h), to a level of 4.0 GWh/h on average, compared to Friday's levels. Meanwhile, the French output should increase 1.2 GWh/h up to 5.1 GWh/h.
The German solar energy output is expected to drop by 530MWh/h compared to Friday's levels to 14.6GWh.
The residual load in Germany, which is the demand for conventional power plants to meet after taking into account renewables, should increase by 5.6GWh/h, from Friday, to average 32.1GWh/h by Monday.
On Monday, power demand in Germany was forecast to drop by 1.3 GW to 50.6 GW. In France, it was predicted to drop by 6.0 GW down to 38.8 GW.
The German contract for the year ahead was down by 0.7% to 86.60 euro/MWh. However, the French contract had yet to start trading after it settled at 65.20 euro/MWh on Friday.
The French nuclear capacity is stable at 82%.
The benchmark contract on the European carbon markets increased by 0.4%, to 70.70 Euros per metric ton. (Reporting and editing by Sonia Cheema; Alban Kacher)
(source: Reuters)
