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POWER: German Spot Power to Rise on Lower Wind

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

The German spot index is expected to rise sharply amid significantly lower wind output on Friday. German December power is edging higher, with support from the front-week contract due to colder weather next week, despite an upward revision in wind output forecasts and small losses in EU gas prices. 

  • Germany Base Power DEC 24 up 1.1% at 102.68 EUR/MWh
  • EUA DEC 24 down 0% at 68.45 EUR/MT
  • TTF Gas DEC 24 down 0.6% at 46.5 EUR/MWh
  • German Spark Spreads M1  up 11.9% at -8.9182 EUR/MWh
  • TTF is easing slightly lower today. The European market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia. Milder weather across Europe has eased pressure on gas storage after the early season withdrawals.
  • EU ETS December 2024 is trading rangebound, shrugging off small losses in EU gas prices. The next EU EUA CAP 3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall sharply on the day to 6.75GW during base load on Friday, down from 32.26GW forecasted for Thursday. Solar PV output is forecast to rise to 4.22GW during peak load on Friday, up from 2.13GW forecasted for Thursday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures will remain above the seasonal normal in December, except for 4-5 December.
  • Mean temperatures in Dusseldorf are forecast to fall to 4.08C on Friday, down from 7.1C on Thursday and below the seasonal average of 5C.
  • Power demand in Germany is forecast to rise to fall to 59.9GW on Friday, down from 61.33GW on Thursday according to Bloomberg.
  • Germany’s hydrobalance has been revised higher on the day to end at -303GWh on 12 December, compared with -315GWh forecasted a day earlier. 
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The German spot index is expected to rise sharply amid significantly lower wind output on Friday. German December power is edging higher, with support from the front-week contract due to colder weather next week, despite an upward revision in wind output forecasts and small losses in EU gas prices. 

  • Germany Base Power DEC 24 up 1.1% at 102.68 EUR/MWh
  • EUA DEC 24 down 0% at 68.45 EUR/MT
  • TTF Gas DEC 24 down 0.6% at 46.5 EUR/MWh
  • German Spark Spreads M1  up 11.9% at -8.9182 EUR/MWh
  • TTF is easing slightly lower today. The European market continues to weigh the supply risk to Russia gas transit via Ukraine along with competition for LNG imports from Asia. Milder weather across Europe has eased pressure on gas storage after the early season withdrawals.
  • EU ETS December 2024 is trading rangebound, shrugging off small losses in EU gas prices. The next EU EUA CAP 3 auction will clear today 11:00 CET.
  • Wind output in Germany is forecast to fall sharply on the day to 6.75GW during base load on Friday, down from 32.26GW forecasted for Thursday. Solar PV output is forecast to rise to 4.22GW during peak load on Friday, up from 2.13GW forecasted for Thursday according to SpotRenewables.
  • The latest 6-10 day ECMWF weather forecast for Dusseldorf suggested mean temperatures will remain above the seasonal normal in December, except for 4-5 December.
  • Mean temperatures in Dusseldorf are forecast to fall to 4.08C on Friday, down from 7.1C on Thursday and below the seasonal average of 5C.
  • Power demand in Germany is forecast to rise to fall to 59.9GW on Friday, down from 61.33GW on Thursday according to Bloomberg.
  • Germany’s hydrobalance has been revised higher on the day to end at -303GWh on 12 December, compared with -315GWh forecasted a day earlier.