Paris — Germany’s spot power prices for Tuesday delivery sank in wholesale trade on Friday as wind power was projected to jump, while demand was expected to fall in both Germany and France.
* Germany’s over-the-counter baseload contract for Tuesday delivery fell to 21.25 euros ($23.62) per megawatt hour by 1452 GMT, down 5.6% compared with the price paid on Thursday for Friday delivery.
* The equivalent French price was flat at 17.75 euros/MWh.
* Power generation from German wind turbines was forecast to climb 4.3 gigawatts (GW) to 9.6 GW on Tuesday compared with Friday, Refinitiv Eikon data showed.
* French electricity generation from wind power is expected to shed 1.6 GW to 2 GW over the same period, the data showed.
* The average temperature in Germany on Tuesday is expected to climb 4.9 degrees Celsius compared with Friday to 19.5 degrees. In France, temperatures are expected to increase by 4.1 degrees Celsius to 22.1 degrees.
* On the demand side, German usage is expected to fall by 1.3 GW to 59.8 GW on Monday while usage in France is forecast to drop 2.1 GW to 41.7 GW.
* Further along the curve, German year-ahead delivery was flat at 36.80 euros/MWh.
* The technical picture for the benchmark German Cal ‘21 contract has improved, BayernLB said in a weekly research note.
* This was due to the surprisingly firm CO2 price which appeared firmly anchored in a range above 20 euros/tonne, it said.
* The French year-ahead power position dropped 0.6% at 45.35 euros/MWh on Thursday.
* December 2020 expiry European CO2 allowances rose 0.5% to 21.37 euros a tonne.
* Hard coal for northern European delivery in 2021 shed 0.5% to $52 a tonne.
* Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine river in Germany and adding surcharges to the usual freight rates, traders said on Thursday.
Follow us on twitter