German prompt rises as wind abates

摘要

Below average wind power output mid-November saw German prompt power prices rise to their highest level since January, while continued mild weather forecasts eased pressure on demand across the region, helping to deflate French front-month contracts. German day-ahead peakload closed November 18 at €59/MWh, the highest level for such a contract in OTC trading since January, Platts data show. According to market sources, the virtual lack of wind power output combined with below average solar levels, tightening supply margins with Germany in need of flows from the Netherlands, where comparatively cheaper gas prices reduced running costs for gas-fired power plants compared to last year.