Prices fall due to increased German wind supply
The European spot price fell on Tuesday as the German wind power market and a weakening French demand affected prices.
German day-ahead prices fell 4.6% at 0915 GMT to 67.75 Euros ($76.92 per megawatt hour)
LSEG data show that the French baseload price for the next day was 29.25 Euros/MWh. This is a 4.1% decrease compared to Monday's spot result.
On the supply-side, Germany expected wind output to increase by 8.4 gigawatts to 30.9 GW Wednesday, while French output was predicted to inch up 650 Megawatts to 8.9 GW.
German solar power will drop by 1.1 GW, to 10.4 GW.
LSEG data shows that the German demand for power is expected to fall by 130 MW on Wednesday. In France, it is forecast to drop by 3.3 GW at 39.8 GW.
Marcus Eriksson, LSEG analyst, said that the residual load in Germany is declining overall. Data shows that Germany will import during peak times and export during off-peak periods.
The French nuclear availability increased by four percentage points, to 60% of the total capacity. Two reactors have returned after planned outages.
The German baseload contract for the year ahead was unchanged at 90.80 Euro/MWh.
The French position for the year ahead had a bid of 62 Euros/MWh.
The benchmark contract for the European carbon market 2025 fell by 0.8%, to 72.48 euro per metric tonne. ($1 = 0.8808 euro) (Reporting and editing by Eileen Soreng; Forrest Crellin)
(source: Reuters)
