German spot power price rises on sharp renewables decline

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May 5, 2017 Anand Gupta

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The German spot electricity price for day-ahead delivery rose on Thursday on the back of a sharp fall in electricity production from renewable wind and solar sources, while a forecast fall in demand, and increased wind and solar output, weighed on the French contract. The German baseload power contract for Friday delivery gained 4.75 euros or 14.84 percent to 36.75 euros ($40.00) per megawatt-hour (MWh). The French equivalent contract fell 8.93 percent to 39.25 euros/MWH. Electricity production from German wind turbines will fall by 9 gigawatts (GW) on Friday to 7.2 GW, Thomson Reuters data shows, while solar power production will reduce by about 1 GW to 3.2 GW. In France, demand is forecast to fall by 1.4 GW to 52.8 GW day-on-day on Friday as the average temperature rises by 1.5 degree Celsius. ($1 = 0.9189 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)