German spot power price climbs on firm demand and on fall in renewables generation
The German spot electricity price for day-ahead delivery rose on Wednesday, buoyed by an expected rise in consumption due to cold weather, and a decline in wind and solar power production.
Paris: The German spot electricity price for day-ahead delivery rose on Wednesday, buoyed by an expected rise in consumption due to cold weather, and a decline in wind and solar power production.
German baseload electricity contract for Thursday delivery gained nearly 10 percent, or 4.25 euros, to 47.25 euros ($57.00) a megawatt-hour (MWh).
The French contract added 3.5 euros to 47 euros/MWh.
Electricity demand is forecast to increase by over 1 gigawatt (GW) day-on-day on Thursday to 81.3 GW, according to Thomson Reuters data, as average temperature falls by 2 degrees Celsius.
Power production from wind turbines will fall by over 3 GW to 2.5 GW on Thursday, while solar output will drop by 820 megawatts to under 1 GW.
Source: reuters
