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Rising wind forecasts send spot prices tumbling

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PARIS, June 13 (Reuters) -European power prices for Friday fell sharply on Thursday as forecasts for a more than doubling of power generation from wind turbines in France and Germany outweighed an expected drop in solar supply.

French baseload power for Friday TRFRBD1 was down 75.7% to 9 euros per megawatt hour (MWh) at 0909 GMT. The German baseload for the day ahead TRDEBD1 was down 11.9% to 85 euros/MWh.

"Prices are no longer so sensitive to changes in demand since heating demand is not a factor anymore, but changes on the supply side from solar and wind still make prices very sensitive," Rystad analyst Fabian Ronningen said.

German wind power output was expected to jump 8.9 gigawatts (GW) to 14.8 GW on Friday, while French output was set to jump 5.1 GW to 8.1 GW, LSEG data showed.

However, German solar supply was expected to fall on Friday by 5.5 GW to 8.3 GW, while French solar supply levels were seen down 1.1 GW to 3.4 GW, the data showed.

French nuclear availability was unchanged at 69% of total capacity. POWER/FR

Power consumption in Germany was forecast to fall 720 megawatts (MW) to 54 GW on Friday, while demand in France was seen dropping 1.4 GW to 41.5 GW, the data showed.

"(Friday's) outlook is bearish day on day, thanks to a surge in wind power supply, a slight reduction in consumption and decreasing residual loads in most neighboring countries," LSEG analyst Marcus Eriksson said.

German year-ahead power TRDEBYZ5 was up 2% to 95.25 euros/MWh.

French 2025 baseload TRFRBYZ5 gained 1.7% to 74 euros/MWh.

European CO2 allowances for December 2024 CFI2Zc1 rose 0.4% to 70.98 euros a metric ton.

Reporting by Forrest Crellin; Editing by Mark Potter


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