German Day-Ahead Power Drops on High Wind Output, Warmer Weather
German electricity for next-day delivery fell as forecasts for more wind generation indicated higher supplies even as rising temperatures reduce demand.
Baseload German power for the next working day, for delivery around the clock, slid as much as 26 percent to 32.50 euros ($43.49) a megawatt-hour and was last traded at 33 euros at 9:30 a.m. Berlin-time, according to broker data compiled by Bloomberg.
Wind generation tomorrow will rise to more than 20,000 megawatts compared with a low of around 7,000 megawatts today, Meteologica SA, a Madrid-based weather forecaster, said on its website. High temperatures in Frankfurt will climb to 7 degrees Celsius (45 Fahrenheit) tomorrow from 2 degrees today and compared to a 10-year average of 4 degrees, according to CustomWeather Inc. data on Bloomberg.
German February power gained for the first time in four days. The contract rose as much as 2.6 percent to 44.65 euros a megawatt-hour, after dropping to a four-week low of 43.30 euros on Jan. 25. Its French equivalent advanced as much as 3.8 percent to 51.50 euros. The contract had slid to a record at 49.50 euros on Jan. 25.
In France, nuclear power generation is set to increase to 60,000 megawatts on Feb. 1 from 58,500 megawatts tomorrow, according to data from the country’s grid operator Reseau de Transport d’Electricite. In Germany, available output capacity will increase to 64,000 megawatts on Feb. 1 from 62,400 megawatts today, according to data on the transparency website of European Energy Exchange AG.
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