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POWER: German Hourly DA Power Prices to Rise YoY in 2025

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

German hourly day-ahead prices are expected to be higher in 2025 compared with 2024 after seeing two consecutive years of declines according to ICIS. 

  • ICIS expects 2025 to be an anomaly, with long-term prices expected to be lower.
  • German power prices this year will be dependent on developments in natural gas markets, while the geopolitical threat persists, which could support prices.
  • European carbon allowances are expected to be higher on the year this year with support from the MSR.
  • ICIS further forecasts another record of negative prices in 2024, supported by growth in solar generation, above-average hydropower generation and a sluggish power demand recovery.
  • Solar PV capacity is forecast to grow by 16% this year and wind capacity by 7.5%.
  • Power demand in Europe is expected to rise by 1.5-1.7% year on year in 2025.
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German hourly day-ahead prices are expected to be higher in 2025 compared with 2024 after seeing two consecutive years of declines according to ICIS. 

  • ICIS expects 2025 to be an anomaly, with long-term prices expected to be lower.
  • German power prices this year will be dependent on developments in natural gas markets, while the geopolitical threat persists, which could support prices.
  • European carbon allowances are expected to be higher on the year this year with support from the MSR.
  • ICIS further forecasts another record of negative prices in 2024, supported by growth in solar generation, above-average hydropower generation and a sluggish power demand recovery.
  • Solar PV capacity is forecast to grow by 16% this year and wind capacity by 7.5%.
  • Power demand in Europe is expected to rise by 1.5-1.7% year on year in 2025.