European spot power prices slip on increased wind power generation

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European spot power prices slip on increased wind power generation

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PARIS, Aug 29 (Reuters) – European spot electricity prices for next-day delivery fell on Tuesday, impacted by a projected increased in supply from renewable wind generation despite a forecast increase in consumption during the same period. The French spot power price for Wednesday delivery was down 3.6 percent or 1.5 euros at 40 euros ($47.95) a megawatt-hour (MWh) in early trade. The benchmark German baseload contract slipped 1.35 percent to 36.60 euros/MWh. Electricity output from German wind turbines is expected to increase by 3.1 gigawatts (GW) day-on-day on Wednesday to 6.3 GW, according to Thomson Reuters data. In France, supply from wind generation will rise by 1.7 GW to 2.7 GW.