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European spot electricity prices rise steeply on lower wind power output

European spot electricity prices rise steeply on lower wind power outputFRANKFURT:

* European prompt power prices leapt on Thursday when wind forecasts for the coming day came in sharply lower, tightening supply in the region.

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* French day-ahead baseload up 10 percent at 35.75 euros ($43.56) a megawatt hour (MWh)

* Same German price up 20 percent at 37.50 euros

* Wind power supply in Germany on Friday due to fall to 6.3 gigawatts (GW) compared with 14.2 GW expected for Thursday, according to one Thomson Reuters forecast scenario

* Also, day-on-day usage seen falling only slightly, despite Friday being a low demand day

* Week ahead prices fall sharply when demand is due to decline around May 1 holiday ($1 = 0.8207 euros)

This story has not been edited by coalpost and is auto-generated from a syndicated feed of ET https://energy.economictimes.indiatimes.com/news/power/european-spot-electricity-prices-rise-steeply-on-lower-wind-power-output/63928970?utm_source=RSS&utm_medium=ETRSS