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POWER: Germany Sees 14 Delivery Hours of Negative Power Prices

POWER
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Germany and France's day-ahead power prices dropped significantly compared to the previous session, driven by a sharp increase in wind generation across both regions. Germany experienced 14 hours of negative power prices, while France recorded none. Although Germany maintained a discount over France, it narrowed on the day due to additional pressure from lower demand in France, further contributing to the price drop.

  • The German day-ahead spot settled at €0.95/MWh from €62.10/MWh on the previous day.
  • The French day-ahead spot cleared at €22.59/MWh from €97.79/MWh on the previous day.
  • Germany was at a €21.64/MWh discount from a €35.69/MWh discount in the previous session.
  • Germany saw 14 delivery hours of negative power prices for delivery on 1 January for delivery between the hours of 03-17.
  • In contrast, France saw none.
  • Wind output in Germany is forecast at 44.68GW, or a 69% load factor on Wednesday from 29.95GW, or a 46% load factor forecasted for Tuesday, according to SpotRenewables. Looking slightly ahead, wind will then be at a 39% load factor on 2 January – which could raise prices from the previous session.
  • Power demand in Germany is forecast to increase to 54.65GW on Wednesday from 52.37GW on Tuesday despite mean temperatures in Dusseldorf forecasts to 5.43C tomorrow from 1.8C today, according to Bloomberg.
  • Demand will then remain firm the next day at 54.77GW.
  • In contrast, wind output in France is forecast at 12.10GW, or a 61% load factor on Wednesday from 4.88GW, or a 24% load factor forecasts for Tuesday according to SpotRenewables. Wind is then expected at a 26% load factor on 2 January.
  • Power demand in France is forecast to fall to 61.51GW on Wednesday from 65.58GW on Tuesday amid mean temperatures in Paris are forecast to rise to 5.6C tomorrow from 3.9C today, according to Bloomberg.
  • Demand will then rise to 64.63GW on 2 January – likely placing some upward pressure on power prices.
  • Nuclear availability in France was stable at 80% of capacity as of Tuesday morning, down from 84% on Monday, RTE data showed, cited by Bloomberg.
  • EdF has extended the outage at its 1.33GW Flamanville 2 nuke to 1 January 2025 from 31 December 2024, latest Remit data show.
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Germany and France's day-ahead power prices dropped significantly compared to the previous session, driven by a sharp increase in wind generation across both regions. Germany experienced 14 hours of negative power prices, while France recorded none. Although Germany maintained a discount over France, it narrowed on the day due to additional pressure from lower demand in France, further contributing to the price drop.

  • The German day-ahead spot settled at €0.95/MWh from €62.10/MWh on the previous day.
  • The French day-ahead spot cleared at €22.59/MWh from €97.79/MWh on the previous day.
  • Germany was at a €21.64/MWh discount from a €35.69/MWh discount in the previous session.
  • Germany saw 14 delivery hours of negative power prices for delivery on 1 January for delivery between the hours of 03-17.
  • In contrast, France saw none.
  • Wind output in Germany is forecast at 44.68GW, or a 69% load factor on Wednesday from 29.95GW, or a 46% load factor forecasted for Tuesday, according to SpotRenewables. Looking slightly ahead, wind will then be at a 39% load factor on 2 January – which could raise prices from the previous session.
  • Power demand in Germany is forecast to increase to 54.65GW on Wednesday from 52.37GW on Tuesday despite mean temperatures in Dusseldorf forecasts to 5.43C tomorrow from 1.8C today, according to Bloomberg.
  • Demand will then remain firm the next day at 54.77GW.
  • In contrast, wind output in France is forecast at 12.10GW, or a 61% load factor on Wednesday from 4.88GW, or a 24% load factor forecasts for Tuesday according to SpotRenewables. Wind is then expected at a 26% load factor on 2 January.
  • Power demand in France is forecast to fall to 61.51GW on Wednesday from 65.58GW on Tuesday amid mean temperatures in Paris are forecast to rise to 5.6C tomorrow from 3.9C today, according to Bloomberg.
  • Demand will then rise to 64.63GW on 2 January – likely placing some upward pressure on power prices.
  • Nuclear availability in France was stable at 80% of capacity as of Tuesday morning, down from 84% on Monday, RTE data showed, cited by Bloomberg.
  • EdF has extended the outage at its 1.33GW Flamanville 2 nuke to 1 January 2025 from 31 December 2024, latest Remit data show.