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POWER: German January Power Tracks 7% Weekly Gain

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

German front-month power is currently tracking a weekly net increase of 6.6% with support from gains in the energy complex and forecasts for colder, less windy weather. German spot power is expected to fall further, with forecasts for higher wind and lower demand this weekend – with average residual load dropping as low as 1.48GWh/h on Sunday. 

  • Germany Base Power JAN 25 up 2.6% at 108.66 EUR/MWh
  • EUA DEC 25 up 0.8% at 68.25 EUR/MT
  • TTF Gas JAN 25 up 2.6% at 44.18 EUR/MWh
  • German Spark Spreads M1  up 27.5% at 2.9418 EUR/MWh
  • TTF extends gains today and heading for a net gain this week amid volatile trading as the market weighs any chances of a continuation of gas transit via Ukraine in the new year. Putin and Zelensky both ruled out the renewal of a key gas transit deal for Europe on Thursday, but Central European countries continue to seek a way to keep gas flowing.
  • EU ETS December 2025 is trading higher this morning, tracking a weekly net increase of almost 2.7%, supported by gains in the EU gas markets.
  • Wind output in Germany is forecast to rise to 36.71GW on Saturday and to 36.07GW on Sunday during base load, up from 32.7GW forecasted for Friday. Wind output in Germany is forecast to fall sharply from Tuesday 24 December. Output next week is forecast between 3.42GW and 32.15GW during base load next week according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested temperatures above normal until 28 December, before falling below the average.
  • Mean temperatures in Dusseldorf are forecast to rise to 7.1C on Saturday and to 6C on Sunday, compared with 4.5C on Friday – with temperatures above the seasonal average.
  • Power demand in Germany is forecast to decrease to 52.74GW on Saturday and to 51.01GW on Sunday, down from 59.36GW on Friday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 6.9GWh/h on Saturday and to 1.48GWh/h on Sunday, compared with 16.59GWh/h on Friday according to Reuters.
  • Germany’s hydro balance has been slightly revised higher on the day to end at 376GWh on 3 January, compared with 303GWh previously. 
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German front-month power is currently tracking a weekly net increase of 6.6% with support from gains in the energy complex and forecasts for colder, less windy weather. German spot power is expected to fall further, with forecasts for higher wind and lower demand this weekend – with average residual load dropping as low as 1.48GWh/h on Sunday. 

  • Germany Base Power JAN 25 up 2.6% at 108.66 EUR/MWh
  • EUA DEC 25 up 0.8% at 68.25 EUR/MT
  • TTF Gas JAN 25 up 2.6% at 44.18 EUR/MWh
  • German Spark Spreads M1  up 27.5% at 2.9418 EUR/MWh
  • TTF extends gains today and heading for a net gain this week amid volatile trading as the market weighs any chances of a continuation of gas transit via Ukraine in the new year. Putin and Zelensky both ruled out the renewal of a key gas transit deal for Europe on Thursday, but Central European countries continue to seek a way to keep gas flowing.
  • EU ETS December 2025 is trading higher this morning, tracking a weekly net increase of almost 2.7%, supported by gains in the EU gas markets.
  • Wind output in Germany is forecast to rise to 36.71GW on Saturday and to 36.07GW on Sunday during base load, up from 32.7GW forecasted for Friday. Wind output in Germany is forecast to fall sharply from Tuesday 24 December. Output next week is forecast between 3.42GW and 32.15GW during base load next week according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested temperatures above normal until 28 December, before falling below the average.
  • Mean temperatures in Dusseldorf are forecast to rise to 7.1C on Saturday and to 6C on Sunday, compared with 4.5C on Friday – with temperatures above the seasonal average.
  • Power demand in Germany is forecast to decrease to 52.74GW on Saturday and to 51.01GW on Sunday, down from 59.36GW on Friday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 6.9GWh/h on Saturday and to 1.48GWh/h on Sunday, compared with 16.59GWh/h on Friday according to Reuters.
  • Germany’s hydro balance has been slightly revised higher on the day to end at 376GWh on 3 January, compared with 303GWh previously.