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. He cited lower renewables as a factor that would boost 'German power prices.

LSEG data shows that the German wind power production is expected to drop by 1.3 gigawatts on Tuesday to 13.4 GW. Meanwhile, wind power generation is projected to increase in France by 870 MW, to 5.2 GW.

The solar output in Germany is expected to fall by 710 MW on Tuesday, from 2.7 GW.

The day-ahead power demand in France was predicted to increase by 1.3 GW to 82 GW, while in Germany it would fall by 780MW to 58.5GW.

The German baseload for the year ahead?shrank 1.9%, to 82.4 Euros/MWh. Meanwhile, French year-ahead remained untraded at its previous close of 49.8 Euros/MWh.

The benchmark contract for the European carbon market 2025 fell by 0.4%, to 87.95 euro per metric ton.

(source: Reuters)