European Day-Ahead Power Surges to 10-Month High on Cold Weather
Power for next-day delivery in Germany and France increased to the highest level in 10 months as a lack of sun and wind depressed output from renewable sources and a cold snap boosted demand.
German baseload electricity for tomorrow jumped 19 percent to 72.07 euros ($93.58) a megawatt-hour, according to data from Paris-based EPEX Spot SE on Bloomberg. That’s the highest level since February. The comparable French contract added 10 percent to 75.81 euros a megawatt-hour.
RWE AG (RWE), Germany’s second-largest utility, yesterday shut its Gundremmingen-C reactor for an unplanned stoppage.
“It’s snowing, getting colder, very low wind, very low solar,” Jens Teresniak, energy economic analysis team manager at German utility Stadtwerke Leipzig GmbH, said by e-mail. “Then we lost Gundremmingen C with 1,288 megawatts yesterday.”
Day-ahead electricity on the coupled markets of the Czech Republic, Slovakia and Hungary surged 12 percent to 69.34 euros a megawatt-hour in a daily auction, according to the countries’ market operators.
Temperatures in Frankfurt may fall to minus 6 degrees Celsius (21 Fahrenheit) tomorrow amid cloudy skies, compared with zero degrees today and a five-year average of 2 degrees, according to CustomWeather Inc. data on Bloomberg. Below-average temperatures in Prague and Budapest were forecast for tomorrow, the data showed.
Output from wind turbines was forecast to remain below 5,000 megawatts for the whole day tomorrow, according to the website of Meteologica SA, a Madrid-based weather bureau. Wind generation was at 6,591 megawatts this morning, above the annual average of 5,128 megawatts, according to data from European Energy Exchange AG in Leipzig, Germany.
German power for next year, a European benchmark, fell as much as 0.4 percent to 45.75 euros a megawatt-hour, broker data compiled by Bloomberg show.
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