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German day-ahead baseload power prices edge higher as wind output weakens

https://www.chemnet.com   Apr 23,2015 Platts
German day-ahead baseload power prices climbed higher Wednesday as healthy solar power generation was offset by weaker wind output, while prices further out on the prompt rose sharply amid forecasts of falling renewables generation.

Baseload power for Thursday delivery was last heard trading OTC at Eur36.25/MWh before midday local time (1000 GMT), Eur1.25 above where Wednesday's price closed on Tuesday.

Thursday peakload meanwhile was last heard at Eur36.60/MWh, 40 euro cent below Wednesday's price.

Epex Spot settled day-ahead prices below OTC levels at Eur34.71/MWh for baseload and peakload Eur34.74/MWh.


Wind power generation was forecast to nearly halve from Wednesday's levels to 3 GW for average baseload hours Thursday, according to a market source, while solar power production remains steady at around 15 GW.

"It's more or less sideways," said a trader, but added that supply fundamentals are expected to weaken further over the weekend as "we will have more rainy weather".

Combined wind and solar generation is forecast to average around 18 GW for peakload hours in the second half of the week before falling towards 15 GW over the weekend, a weather forecaster said.

Baseload power for delivery this weekend was heard trading at Eur23/MWh by midday London time, Eur2 higher from the previous close.

Also on the supply side, nuclear availability was still pegged at 10.5 GW Thursday, with just E.ON's Grohnde reactor offline for planned maintenance until May, according to plant operator data.

Coal plant availability was slightly lower at 13 GW for Thursday with lignite availability more than 1 GW lower at 14.8 GW due to scheduled maintenance, according to EEX transparency data.

Contracts on the curve continue to move sideways with front-month base unchanged from Tuesday's close at Eur28.15/MWh, while year-ahead base firmed 5 euro cent to Eur32.05/MWh.
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