Spot prices drop on increasing wind and nuclear power generation
The wholesale European spot electricity price fell on Wednesday, as wind speeds in the region were expected to increase and France increased nuclear supply. Demand expectations were not changed.
LSEG's analysis showed that solar generation is declining, but lignite availability is improving.
By 840 GMT on Thursday, the German baseload electricity price was 62.9 euros (71.22 dollars) per megawatt-hour (MWh), down 15.1% compared to Tuesday's closing price.
The French equivalent contract was 27,8% lower, at 19.5 Euros/MWh.
In Germany, wind power production was expected to grow to 27.1 gigawatts per day, up from 19.3 GW. In France, it would increase to 5.6 GW per day, up from 3.1 GW.
The French nuclear capacity has increased by two percentage points, to 63%.
On the day before, consumption in Germany is expected to drop 100 MW and reach 52.3 GW. In France, it will rise 800 MW and reach 43.8 GW.
LSEG data shows that temperatures in both countries have been below average for the season, but will rise by 2.6 degrees Celsius over the next week.
The German weather service DWD has forecast that the next few days will be similar to April or autumn, with the new week also being changeable.
German baseload power for the year ahead traded 0.6% higher, at 90.9 Euro/MWh.
The French equivalent rose 1.7% to 61.3 Euros.
The benchmark contract on the European carbon markets was almost unchanged, at 73.22 Euros per metric ton.
A column praised solar energy for a major milestone. ($1 = 0.8832 euro) (Reporting and editing by Kirsten Doovan; Vera Eckert)
(source: Reuters)
