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POWER: German March Power Rises to New Contract High

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

Germany March power is trading at a new contract high, supported by higher EU gas prices, forecasts for colder weather and an expected decline in wind output from mid this week. The German spot power index is expected to decline with forecasts for higher wind output on Tuesday. 

  • Germany Base Power MAR 25 up 5% at 113.4 EUR/MWh
  • EUA DEC 25 up 1.7% at 83.67 EUR/MT
  • TTF Gas MAR 25 up 4.1% at 58 EUR/MWh
  • German Spark Spreads M1  up 26.9% at -12.8441 EUR/MWh
  • TTF rallies to the highest since February 2023 at €58.0/MWh with the risk to gas storage from a drop in temperatures and expected boost to heating demand in NW Europe later this week.
  • EU ETS December 2025 allowances are trading higher with support from EU gas prices and forecasts for cool weather.
  • Wind output in Germany is forecast to increase to 28.95GW during base load on Tuesday, up from 25.16GW on Monday according to SpotRenewables.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggested mean temperatures will be below the seasonal average from 12 February until the end of the forecast period.
  • Mean temperatures in Dusseldorf are forecast to rise to 4.1C on Tuesday, up from 2.3C on Monday and above the seasonal average of 3.7C.
  • Power demand in Germany is forecast to rise to 63.23GW on Tuesday, up from 61.3GW on Monday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 28.73GWh/h on Tuesday, down from 30.53GWh/h on Monday according to Reuters.
  • Germany’s hydro balance has been revised higher from Friday’s forecast to end at -49GWh on 24 February. 
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Germany March power is trading at a new contract high, supported by higher EU gas prices, forecasts for colder weather and an expected decline in wind output from mid this week. The German spot power index is expected to decline with forecasts for higher wind output on Tuesday. 

  • Germany Base Power MAR 25 up 5% at 113.4 EUR/MWh
  • EUA DEC 25 up 1.7% at 83.67 EUR/MT
  • TTF Gas MAR 25 up 4.1% at 58 EUR/MWh
  • German Spark Spreads M1  up 26.9% at -12.8441 EUR/MWh
  • TTF rallies to the highest since February 2023 at €58.0/MWh with the risk to gas storage from a drop in temperatures and expected boost to heating demand in NW Europe later this week.
  • EU ETS December 2025 allowances are trading higher with support from EU gas prices and forecasts for cool weather.
  • Wind output in Germany is forecast to increase to 28.95GW during base load on Tuesday, up from 25.16GW on Monday according to SpotRenewables.
  • The latest two-week ECMWF weather forecast for Dusseldorf suggested mean temperatures will be below the seasonal average from 12 February until the end of the forecast period.
  • Mean temperatures in Dusseldorf are forecast to rise to 4.1C on Tuesday, up from 2.3C on Monday and above the seasonal average of 3.7C.
  • Power demand in Germany is forecast to rise to 63.23GW on Tuesday, up from 61.3GW on Monday according to Bloomberg.
  • Residual load in Germany is forecast to decline to 28.73GWh/h on Tuesday, down from 30.53GWh/h on Monday according to Reuters.
  • Germany’s hydro balance has been revised higher from Friday’s forecast to end at -49GWh on 24 February.