Spot prices fall on German wind production

The European spot price for Tuesday dropped as the German temperatures are expected to increase and wind power production will rise.

LSEG data shows that the German day-ahead price was 63.25 Euros ($73.76 per megawatt hour) at 0929 GMT. This is down 17.9% compared to Friday's closing price for Monday delivery.

LSEG data revealed that the French baseload price for the day was 45 euros/MWh. On Friday, the Monday price was not traded.

Wind and solar are increasing in Germany. According to LSEG analyst Xiulan He, the lower wind in France, Austria, and Germany is increasing residual load.

LSEG data revealed that on the supply side Germany expected wind output to increase by 3.9 gigawatts, to 35.5 GW, while French output was predicted to fall 3.9 GW, to 9.4 GW.

LSEG data shows that German electricity consumption rose by 1.8 GW Wednesday to 56.7 GW. Meanwhile, France's demand fell by 1.8 GW from 46.9 GW.

Engie's EnergyScan analyst said that in the short-term, the warm weather would cool down by the middle of next week and then heat up again.

LSEG data shows that the average temperature in Germany is rising by 1.3 degrees Celsius, to 12.7 C. In France, it has dropped by 0.7 C at 14.8 C.

The French nuclear capacity remained unchanged at 72% total capacity, despite the extension of the unplanned shutdown at Dampierre 2.

EDF, the operator of Dampierre 2, said that on Friday it shut down the reactor to perform maintenance on an electrical panel outside of nuclear zones.

The German baseload contract for the year ahead was down by 0.9% to 87.35 Euros/MWh.

After closing Friday at 57.10 euro/MWh, the French year-ahead contract was not traded.

The benchmark contract for 2025 on the European carbon market was unchanged at 79.47 euro per metric tonne. $1 = 0.8575 euro (Reporting and editing by Tasim Zaid)

(source: Reuters)