POWER: German Front Week Power Rallies on Low Wind
Jan-23 14:01
German front-week power is pulling higher today, reaching an intraday high of €115/MWh, with forecasts suggesting low wind output at the end of next week, after high output at the start of the week. Similar trends are seen in the French market.
- German wind output is forecast to fall sharply from Thursday 30 January, with output dropping as low as 2.59GW, or a 4% load factor, during base load on 31 January according to SpotRenewables.
- Next week forecast: Mon (36.9GW), Tue (32.2GW), Wed (28.84GW), Thu (11.29GW), Fri (2.59GW), Sa (7.71GW)
- Gains are despite forecasts for significantly warmer-than-average temperatures through next week, with milder weather to weigh on heating demand. Mean temperatures in Dusseldorf are forecast between 4.1C and 9C according to Bloomberg’s latest ECMWF model.
- Forecasts are also adding support to German February power with prices trading at the highest since 3 January.
- Germany Base Power Week 2 up 9.5% at 113 EUR/MWh
- Germany Base Power FEB 25 up 4.2% at 111.51 EUR/MWh
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STIR FUTURES: BLOCK: Dec'24 SOFR Sale
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