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POWER: German Day Ahead Soars Above €110/MWh on Lower Wind, High Temperatures

POWER

The German and French day-ahead rose, with support from lower wind on the day, with max temperatures in Berlin and southern France set to soar above 30C on 29 August – likely spurring cooling demand.

  • The German day-ahead spot settled at €112.91/MWh from €95.92/MWh in the previous day.
  • The French day-ahead spot cleared at €99.21/MWh from €89.40/MWh in the previous day.
  • German wind output is expected at 4.1-7.1GW, or load factors of 6-11% over 29-30 August down from 12% forecast for today, according to Spot Renewables.
  • The latest 6-10 days ECMWF for Berlin suggest max temperatures being at 33C on 29 August, with average temperatures above the 30-year norm of around 17C for the same day.
  • German power demand is forecast up on 29 August by around 170MW, with demand averaging 52.9GW compared to 52.6GW for 28 August, according to Bloomberg. Demand will then fall between 44.6-52.3GW over 30-31 August.
  • In contrast, French wind output is forecast at 2.07GW, or 10% load factor on Thursday, slightly down from 2.09GW forecast for today, with wind then climbing to a 15% load factor the next day.
  • In the south, Marseille, forecasts for max temperatures are anticipated to be between 30.6-33.7C over 28 August- 6 September– likely keeping cooling demand firm.
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