Surging renewables output weighs on European spot power prices
PARIS: European spot electricity prices for day-ahead delivery tumbled on Thursday, impacted by a forecast surge in power generation from renewable wind and solar sources, while demand is also expected to fall. The baseload German spot power for Friday delivery fell by 6.1 euros, or over 16 percent, to 31.10 euros ($35.53)per megawatt-hour (MWh). The equivalent French contract slipped 4.25 euros, or 11.33 percent, to 33.25 euros/MWh. Electricity production from German wind turbines is expected to rise by nearly 9 gigawatts (GW) day-on-day on Friday to 14.6 GW, according to Thomson Reuters data. Solar power generation will rise by 2.3 GW to 6.2 GW, during the same period. Demand will fall by 1.8 GW on Friday in Germany to 68.8 GW. In France, consumption will decline by 840 megawatts to 47 GW.
Source:Reuters
