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Bloomberg
The price of powering Europe next month declined as more favourable weather conditions are set to increase generation of renewable energy.
Rising wind-power generation has eased the pressure on near-term prices, which has filtered through to month-ahead values, according to Sabrina Kernbichler, an analyst at S&P Global Platts. German power for February falls as much as 3% to 183.49 euros per megawatt-hour and was 1.6% lower at 12:04 pm local time. The French contract fell 6.7% in broker trading to 238 euros.
Germany is expecting a large jump in wind generation to ease the strain of high gas prices on power costs.
Wind generation is set to peak on Wednesday at 33,937 MW at 11 p.m. local time and on Thursday at 12 pmat 42,003 MW. That’s approaching a November 30 record of 47,130 megawatts.