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German Power Could See Price Swings in June on Mixed Weather

POWER
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The German power market could see price swings in June as weather forecasts over the next four weeks give mixed indications of renewable output and temperatures, according to Ubimet, cited by Montel.

  • Ubimet forecasts peak solar output between 25-40GW by mid-next week, with strong generation continuing into the week beginning 10 June. However, the streak may end the following week, according to DWD.
  • And wind generation should be higher than normal next week, with Sweden’s SMHI indicating an average around 15-20GW.
  • Temperatures in June are expected to be near normal for the first half of the month, according to DWD. The last two weeks will be warmer.
  • High temperatures increase cooling demand, while they can also impact power plants and deliveries of coal by rivers.
  • Precipitation is expected to be within the normal range at the start of June, which could impact European hydro reservoir stocks.
  • The German June power contract up 2.99% at €74.85/MWh at the time of writing- shrugging of slightly losses in European gas.
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The German power market could see price swings in June as weather forecasts over the next four weeks give mixed indications of renewable output and temperatures, according to Ubimet, cited by Montel.

  • Ubimet forecasts peak solar output between 25-40GW by mid-next week, with strong generation continuing into the week beginning 10 June. However, the streak may end the following week, according to DWD.
  • And wind generation should be higher than normal next week, with Sweden’s SMHI indicating an average around 15-20GW.
  • Temperatures in June are expected to be near normal for the first half of the month, according to DWD. The last two weeks will be warmer.
  • High temperatures increase cooling demand, while they can also impact power plants and deliveries of coal by rivers.
  • Precipitation is expected to be within the normal range at the start of June, which could impact European hydro reservoir stocks.
  • The German June power contract up 2.99% at €74.85/MWh at the time of writing- shrugging of slightly losses in European gas.