1. Home
  2. Europe
  3. &
  4. UK
  5. Sharp decline in wind and solar output lifts German spot
Sharp decline in wind and solar output lifts German spot

Sharp decline in wind and solar output lifts German spot


European electricity prices for day-ahead delivery were mixed on Thursday as a forecast fall in power production from renewable wind and solar sources buoyed the German spot contract while a fall in demand pressured prices in France.
* The German baseload electricity contract for Friday delivery up 5 euros or 15.63 percent to 37 euros ($40.45) per megawatt-hour (MWh).
* The French day-ahead price for Friday down 9.51 percent to 39 euros/MWh.
* German wind power production expected to fall by 9 gigawatts (GW) day-on-day on Friday to 7.1 GW, Thomson Reuters data shows. Power production from German solar PV panels to fall by more than 1 GW to 3.2 GW.
* A 1.2 GW fall forecast in German electricity consumption on Friday to 67.2 GW was not enough to dampen the bullish run.
* In France, electricity demand is seen falling by 1.4 GW to 52.7 GW on Friday as the average temperature is expected to rise by 1.5 degrees Celsius.
* On the supply side, power production from French wind turbines will rise by over 1 GW to 3 GW. Solar generation will increase by 380 megawatts to 1.5 GW on Friday.
* French nuclear power generation, which accounts for over 75 percent of French electricity needs, is seen stable at 74 percent of capacity, while coal-fired generation will rise slightly, adding bearish pressure.
* Along the power forward curve, prices slipped alongside fuels. The German Cal ’18 benchmark fell 0.85 percent to 29.05 euros/MWh as coal, carbon, oil and gas fell.
* The equivalent French power contract was down 0.56 percent at 35.50 euros/MWh.
* Dec’ 17 expiry EU carbon fell 1.59 percent to 4.33 euros a tonne, while coal prices cif North Europe for 2018 slipped 0.76 percent to $65.30 a tonne.
* Oil prices fell for the fourth day in a row on Thursday, nearing their lowest level since late March after data showed a lower than expected decline in U.S. inventories.
* In eastern Europe, the Czech day-ahead contract, which mirrors the German spot, rose 18.02 percent to 37 euros/MWh , while the year-ahead contract fell 1.18 percent to 29.30 euros/MWh. ($1 = 0.9147 euros) (Reporting by Bate Felix; editing by Jason Neely)

Anand Gupta Editor - EQ Int'l Media Network


Your email address will not be published. Required fields are marked *