New Energy
German Power Prices Jump on Little Wind and Less Russian Gas
- Output from wind turbines to remain low for several days
- Prices remain at elevated levels for Tuesday in early trading
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Short-term German power prices more than doubled as calm weather and the expected halt of gas flows on the Nord Stream pipeline crimped supplies.
Power for Monday surged to the highest since early March with wind generation forecast to remain at very low levels for the next few days. There will also be less gas available for power plants with Nord Stream scheduled to halt on Monday.