German Power Price Continues Decline on Warmer Weather Forecast
- February power dropped on expectations of lower demand
- Year-ahead power price drops almost 3% on Monday morning
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The cost of powering Europe’s largest economy next month is dipping as traders bet warmer weather will reduce demand.
German power for February dipped almost 8% in trading Monday to around 230 euros per megawatt-hour, following a 3.8% decline on Friday, after further forecasts in much of central and eastern Europe diminished expectations for imminent cold snaps. German power, a benchmark for the continent, has fallen steeply from record levels in December, when prices reached above 500 euros.