Europe Power-Spot Eases as Solar Output Rises

Reuters

PARIS, June 27 (Reuters) – European spot power prices fell slightly on Wednesday, helped by higher solar energy ouput in Germany that offset higher consumption and an elevated outage level at French nuclear plants, traders said.

Germany’s day-ahead baseload was 1 euro down on the day at 48 euros a megawatt hour and the equivalent French contract fell 2.25 euros to 48.25 euros per MWh. Wind generation in Germany was forecast to fall to just under 1 GW while solar production was expected up to around 5 GW, data from Thomson Reuters Point Carbon showed.

“Solar power production is expected up around 1,600 MW on average and more than offset the increase in consumption and lower wind in the peak hours,” Point Carbon analysts wrote on Wednesday.