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German spot price drops as wind supply set to double

The German prompt power price fell in Tuesday trading as wind power supply was set to double and demand was seen down, while the French rate increased on a drop in nuclear schedule.

German day-ahead baseload power fell 14.9% to 80.85 euros ($ 87.84) per megawatt hour (MWh) by 0850 GMT.

The equivalent French agreement was up 34.8% at 31 euros/MWh.

German wind power output is forecasted to leap 8.7 gigawatts ( GW) to 16.3 GW while French supply is expected to include 1.3 GW to 6.7 GW, the data showed.

Supply from German solar panels is anticipated to fall by 1.2 GW to 10.1 GW on Wednesday, LSEG data programs.

Rates are anticipated to be paired in Germany, Austria and the Netherlands for many hours over the next day, with fundamentals pointing in the bearish direction, LSEG expert Naser Hashemi said.

French nuclear availability fell four percentage points to 71% of optimum capability as one reactor went offline for prepared maintenance and the Paluel 3 reactor went offline with an unintended outage.

Power intake in Germany is anticipated to visit 1.5 GW to 52.2 GW on Wednesday while demand in France is anticipated to dip by 460 MW to 43.6 GW as both nations, LSEG data programs.

German year-ahead power shed 1.5% to 99.20 euros/MWh while the French 2025 baseload contract was untraded after closing at 86 euros/MWh.

European CO2 allowances for December 2024 were down 1.3% at 75.26 euros a metric ton.

(source: Reuters)