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German spot power price down on increased renewables output, fall in demand
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German spot power price down on increased renewables output, fall in demand

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German spot power price down on increased renewables output, fall in demand

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The German spot power price for day-ahead delivery fell on Thursday, weighed down by increased output from renewable wind and solar source, and a forecast decline in consumption. Electricity demand in Germany is seen falling by 1.4 gigawatts (GW) day-on-day on Friday to 75.5 GW, according to Thomson Reuters data. Power output from wind turbines will jump by nearly 5 GW on Friday to 14.8 GW, while solar power production will increase by 1.3 GW to 3.6 GW during the same period, the data showed. German baseload power for Friday delivery fell 3.5 euros or 9.27 percent to 34.25 euros ($36.08) per megawatt hour (MWh). ($1 = 0.9492 euros)

Source:Reuters

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Anand Gupta Editor - EQ Int'l Media Network
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