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POWER: German Front-Month Power Edges Lower

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

The German March power base-load contract is edging lower with losses in the energy complex and an upward revision in forecasts for wind output. German spot power is expected to decline with forecasts for higher wind output on the day. 

  • Germany Base Power MAR 25 down 1% at 104.12 EUR/MWh
  • EUA DEC 25 down 0.4% at 80.67 EUR/MT
  • TTF Gas MAR 25 down 1.3% at 53.095 EUR/MWh
  • German Spark Spreads M1  down 10.3% at -17.7027 EUR/MWh
  • TTF front month is trading down from the peak of €54.805/MWh yesterday. Healthy LNG imports are set against cool weather and Norway outages this week as the markets assess the impact on global LNG flows amid increasing US trade tensions with China
  • EU ETS December 2025 allowances are extending yesterday’s losses, albeit trading within Monday’s range this morning, with potential US tariffs on Europe and losses in EU gas prices adding downside pressure. The next EU ETS CAP3 auction will clear today 11:00CET.
  • Wind output in Germany is forecast to increase to 13.06GW during base load on Wednesday, up from 11.39GW on Tuesday. Wind output in Germany has been revised higher for next week with output reaching up to 54% load factors according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggests mean temperatures will decline later this week to remain below the seasonal normal through the forecast period.
  • Mean temperatures in Dusseldorf are forecast to rise to 4.1C on Wednesday, up from 1.5C on Tuesday and above the seasonal average of 3.4C.
  • Power demand in Germany is forecast to rise 61.08GW on Wednesday, up from 60.84GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 42.96GWh/h on Wednesday, down from 45.19GWh/h on Tuesday according to Reuters.
  • Germany’s hydro balance has been revised lower to end at -131GWh on 18 February, compared with -20GWh a day earlier. 
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The German March power base-load contract is edging lower with losses in the energy complex and an upward revision in forecasts for wind output. German spot power is expected to decline with forecasts for higher wind output on the day. 

  • Germany Base Power MAR 25 down 1% at 104.12 EUR/MWh
  • EUA DEC 25 down 0.4% at 80.67 EUR/MT
  • TTF Gas MAR 25 down 1.3% at 53.095 EUR/MWh
  • German Spark Spreads M1  down 10.3% at -17.7027 EUR/MWh
  • TTF front month is trading down from the peak of €54.805/MWh yesterday. Healthy LNG imports are set against cool weather and Norway outages this week as the markets assess the impact on global LNG flows amid increasing US trade tensions with China
  • EU ETS December 2025 allowances are extending yesterday’s losses, albeit trading within Monday’s range this morning, with potential US tariffs on Europe and losses in EU gas prices adding downside pressure. The next EU ETS CAP3 auction will clear today 11:00CET.
  • Wind output in Germany is forecast to increase to 13.06GW during base load on Wednesday, up from 11.39GW on Tuesday. Wind output in Germany has been revised higher for next week with output reaching up to 54% load factors according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggests mean temperatures will decline later this week to remain below the seasonal normal through the forecast period.
  • Mean temperatures in Dusseldorf are forecast to rise to 4.1C on Wednesday, up from 1.5C on Tuesday and above the seasonal average of 3.4C.
  • Power demand in Germany is forecast to rise 61.08GW on Wednesday, up from 60.84GW on Tuesday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 42.96GWh/h on Wednesday, down from 45.19GWh/h on Tuesday according to Reuters.
  • Germany’s hydro balance has been revised lower to end at -131GWh on 18 February, compared with -20GWh a day earlier.