French and German Power Prices Reach Levels Last Seen in 2022
Weak wind and solar output lifted day-ahead prices in France and Germany, while a UK supply warning was later withdrawn.
Key takeaways
- French day-ahead power settled at €334 per MWh, its highest level since December 2022.
- German day-ahead power settled at €345.64 per MWh, with some evening slots above €600.
French and German day-ahead power prices rose to their highest levels since 2022 as wind and solar generation weakened. France settled at $374 (€334) per megawatt-hour, while Germany settled at $386 (€345.64), with some evening slots above $672 (€600).
A weather front brought still, cloudy conditions across major European electricity markets. Wind and solar output was expected to remain below normal until at least midweek, leaving gas-fired plants to set prices.
The UK’s National Energy System Operator issued a routine notice warning of tight supply on Monday morning, then canceled it later that morning.
Mind Energy said low hydropower reservoir levels and rising natural gas prices were adding pressure in Nordic markets. The energy trader said October’s gas price increases and hydrological pressure could push electricity prices higher in the coming months.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
