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German Monday power price up on lower renewable supply

German Monday power price up on lower renewable supply

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German power prices for Monday rose in the European wholesale market on Friday on forecasts for lower output from solar installations and with a prolonged French outage also tightening supply in the region.
German baseload for Monday delivery was 38 euros ($44.33) a megawatt hour (MWh), up 4.4 percent from the price paid for Friday.
The equivalent French contract did not trade early.
Friday delivery had closed at 36.25 euros.
Thomson Reuters data showed German solar supply on July 24 will likely fall by 2.2 gigawatts (GW) from Friday’s 8.5 GW.
The Gravelines 3 nuclear plant in France will now not restart on July 24 but on August 1, data from French grid company RTE showed.
Traders said that lower demand partly offset the bullish factors.
($1 = 0.8572 euros)

Source: timesofindia
Anand Gupta Editor - EQ Int'l Media Network

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