January 2, 2017 / 8:23 AM / 7 months ago

European spot power prices mixed, next week lower

2 Min Read

FRANKFURT, Jan 2 (Reuters) - French spot electricity prices jumped on Monday after a cold snap boosted demand though prices in neighbouring Germany were lower thanks to higher wind power supply.

One German forecast put Tuesday's likely wind power supply at 20.7 gigawatts (GW), up from 9 GW on Monday, according to Thomson Reuters data.

Temperatures in France will be variable this week, falling to 0.3 degrees Celsius on Tuesday from 2.1 degrees on Monday. Temperatures in Germany will rise by 0.5 degrees to 1.4 degrees on Tuesday.

French day-ahead power was at 88 euros per megawatt hour (MWh), 33 percent higher than the price paid for Monday delivery at the end of last week. The cost of power four days ahead was 64 percent higher at 100 euros/MWh.

German day-ahead baseload power was 34 euros per MWh, 23 percent lower than the price paid for Monday delivery at the end of last week.

Prices for next week were lower, down 19 percent and 18.5 percent respectively in Germany and France with temperatures in both countries expected to be higher then. (Reporting by Vera Eckert; editing by David Clarke)

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