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German spot power price hits nine-month high on French nuclear worries, low renewables
October 6, 2016 / 9:26 AM / a year ago

German spot power price hits nine-month high on French nuclear worries, low renewables

PARIS, Oct 6 (Reuters) - The German spot power price for day-ahead delivery hit a nine-month high on Thursday on a sharp fall in renewables power output and unabated worries over tight French nuclear power supply ahead of the cold winter months, traders said.

The German baseload power price for Friday delivery jumped 17.69 percent or 5.75 euros to 38.25 euros ($42.52) /MWh, touching levels last reached in January. The French contract gained 4.4 euros or 8.78 percent to 54.25 euros /MWh.

European power prices have rallied in the past week over concerns that France, a net power exporter, which depends on nuclear for about 75 percent of its electricity needs, could face supply constraints in the winter months. ($1 = 0.8937 euros) (Reporting by Bate Felix; Editing by Andrew Callus)

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