POWER
Germany has flipped to a net export position to the Netherlands so far in May for the first time this year as German PV has reached a yearly high, while gas-fired and hydro generation has remained firm on the month. But the German June power contract is currently sitting at a premium to the Dutch equivalent, which could flip Germany back to net importer over the period.
- German-Dutch net exports have averaged around 259MW over 1-17 May, switching from net imports of around 475MW in April – the highest net imports so far in 2024.
- Germany has been a net exporter between the hours of 00:00-07:00 CET and 18:00-23:00 CET, with the country flipping back to a net importer between 10:00:17:00 CET.
- This is slightly different from April when Germany was at a net import position for most hours during the day.
- PV output in Germany has averaged about 12.22GW so far this month, up from 8.95GW in April and the highest this year – leading to periods of negative prices for some hours.
- Gas generation has remained firm on the month, averaging 4.29GW in May compared to 4.84GW – allowing for Germany to send power during periods of low renewable output.
- German hydro output has edged up in May, averaging around 5.72GW compared to 5.57GW in April.
- But onshore and offshore wind have fallen to an average of about 10GW and 2.15GW, respectively, in May - lowering from 13.17GW and 3.03GW in April.
- Germany-Dutch flows could flip in June as the German June power contract closed at €3.95/MWh premium to the Netherlands on 16 May.
266 words