New Energy
European Power Prices Rise as Wind Forecast Is Revised Down
- German week-ahead power prices up by 12%, UK equivalent by 14%
- Low wind this winter season has seen power prices soar higher
A high voltage electricity transmission tower near an apartment block in Berlin, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European power prices jumped as a forecast for wind generation was revised downward and cold weather boosted heating demand.
German week-ahead power prices rose 12% to €122 per megawatt-hour, while the UK equivalent also soared nearly 14% to £109.4 per megawatt-hour, according to broker data compiled by Bloomberg.