Spot prices are affected by the rising wind supply and lower demand
The European spot electricity prices for Wednesday are lower than the Tuesday price because wind power is expected to increase in the region, and demand is expected to fall.
At 0928 GMT the German day-ahead price was 70.75 euro ($78.57), below Monday's closing price of 81.5 euros.
LSEG data show that the French baseload price for the next day was 36 euros/MWh. This is a 22.7% decrease compared to Monday's spot result.
LSEG data indicated that on the supply side Germany expected wind output to increase by 3.6 gigawatts to 11.5 GW Wednesday, and French wind output would rise by 650 megawatts to 1.6 GW.
LevelTen, a price tracking platform, said that the price of European power purchase agreements for green electricity fell by 5.4% compared to 2024's first quarter and rose by 1.1% compared to 2024's fourth quarter.
Citing a blend index for solar and wind power, the price was set at 76.77 Euros/MWh in the first quarter.
LSEG data shows that the German demand for power is expected to increase by 770 MW on Wednesday to 54 GW. In France, however, it is predicted to fall by 770 MW, to 41.5 GW.
Data also shows that most imports into Germany are expected throughout the day but exports are expected at noon.
The French nuclear capacity remained unchanged at 70%.
The German baseload contract for the year ahead was up 0.5% to 90.15 Euro/MWh.
The French position for the year ahead remained unchanged at 61.15 euro/MWh after Monday's close. The benchmark contract for the European carbon market 2025 fell by 0.8%, to 72.85 euro per metric tonne. ($1 = 0.9004 euro) (Reporting and additional reporting by Vera Eckert, Editing by Shakesh Kuber).
(source: Reuters)
