January 6, 2017 / 8:33 AM / 7 months ago

German Monday power jumps on low supply, higher demand

1 Min Read

FRANKFURT, Jan 6 (Reuters) - German power prices for Monday and next week jumped early on Friday on higher demand and low expected renewable supply in the European wholesale market amid an ongoing cold weather spell.

German Monday delivery power was up 11 percent at 52.30 euros ($55.39) per megawatt hour (MWh) and the week ahead price was up 4 percent at 39.5 euros/MWh.

French week ahead power was up 2.9 percent at 62 euros while Monday had not traded as of 0830 GMT.

Wind and solar output forecasts looked weak for Monday, traders said, as some industrial demand is set to rise following holidays in part of the region.

But traders added that wind predictions could change and that thermal power generators were planning to tap more coal and gas plant capacity.

$1 = 0.9442 euros Reporting by Vera Eckert; editing by Jason Neely

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