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European prompt power prices volatile on wind, temperatures
January 3, 2017 / 8:37 AM / a year ago

European prompt power prices volatile on wind, temperatures

FRANKFURT, Jan 3 (Reuters) - European spot power prices on Tuesday were volatile, driven by weather patterns, with day ahead prices pressured by a rising supply of wind power in major producer Germany and as a colder weather later this week pushed up prices in that period.

German day ahead power was off 25 pct at 28 euros ($29.28) a megawatt hour, while French day ahead power was down 17 percent at 72 euros/MWh.

German wind turbines will produce at 32.6 gigawatt (GW) on Wednesday out of a maximum installed capacity of 45 GW, according to one forecast quoted by Thomson Reuters.

This data set put the level for Tuesday at 25.1 GW and that expected on Thursday at 7.9 GW.

German day 2, (Thursday), was up 88 pct at 53.5 euros/MWh , while day 2 in France did not trade.

But Friday power in France was up 12.5 percent at 90 euros/MWh.

Weather data pointed to a temperature drop of up to 5 degrees Celsius in both countries, starting on Thursday and until the end of the week, which will push up heating demand. ($1 = 0.9563 euros) (Reporting by Vera Eckert, editing by Louise Heavens)

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