German spot power price jumps on sharp fall in wind output

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German spot power price jumps on sharp fall in wind output

March 22, 2017 Anand Gupta

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European spot power prices for day-ahead delivery rose on Tuesday due to a forecast sharp fall in wind power production and a rise in demand, with the German contract rising sharply. The German baseload contract for Wednesday delivery rose 26.25 percent to touch a one-month high of 38.25 euros ($41.24) per megawatt-hour (MWh). The equivalent French contract added 1.27 percent to 40 euros/MWh. Wind power production from German wind turbines is expected to tumble by over 13 gigawatts (GW) to 4.8 GW day-on-day on Wednesday, according to Thomson Reuters data. Solar power output will fall by 150 megawatts, the data showed. In France, consumption is expected to rise by 1.3 GW to nearly 60 GW on Wednesday as weather forecasts showed temperatures falling by average 1.2 degree Celsius. ($1 = 0.9274 euros) (Reporting by Bate Felix; Editing by Sudip Kar-Gupta)