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Lower wind output raises German spot rates

German timely power rates were higher on Monday on expectations of reduced wind power supply throughout the European area.

German day-ahead power for Tuesday was trading at 101.75 euros ($ 105.93) per megawatt hour (MWh) by 0942 GMT, LSEG information revealed. The agreement for Monday was untraded on Friday.

French baseload power for Tuesday was at 99.5 euros per megawatt hour (MWh), LSEG information revealed.

Germany is anticipated to turn to imports on the back of rising recurring load, in spite of lower consumption due to the vacation duration, stated LSEG expert Riccardo Parviero.

German wind power output was expected to fall by more than half, down 20.0 gigawatts (GW) on Tuesday to 14.6 GW while French wind output was anticipated to shed 9.4 gigawatts (GW) to 2.8 GW, LSEG data showed.

French nuclear availability fell one percentage point to 82%. of total capacity.

Power consumption in Germany is expected to fall 6.6 GW to. 44.0 GW on Tuesday while need in France is predicted to. increase by 1.1 GW to 55.8 GW, LSEG information showed.

German year-ahead power rose 3.3% to 83.4 euros. per megawatt-hour (MWh), while the French 2025 baseload contract. was untraded, with a bid cost of 73.25 euros/MWh.

The scenario with European nations that buy Russian gas. is really complex and needs increased attention, the. Kremlin said after talks between President Vladimir Putin and. Slovak Prime Minister Robert Fico.

European CO2 allowances for December 2024 edged up. 1.0% to 68.86 euros a metric ton.

(source: Reuters)