May 8, 2017 / 8:03 AM / 3 months ago

European day-ahead power prices jump on increased demand

1 Min Read

PARIS (Reuters) - European spot electricity prices for day-ahead delivery rose on Monday, boosted by a forecast rise in demand and a sharp fall in German wind power production.

The baseload German electricity price for Tuesday delivery TRDEBD1 added 7.4 euros to reach 39 euros (£33) per megawatt-hour (MWh) compared with the price paid on Friday for Monday delivery.

The French spot price for Tuesday TRFRBD1 rose 8 euros to 41.5 euros/MWh, compared with the price paid on Friday.

Electricity demand in Germany is expected to rise by 1.7 gigawatts (GW) day-on-day on Tuesday to 68.5 GW, with the average temperature forecast to fall by 2 degrees Celsius, according to Thomson Reuters data.

In France, consumption will jump by nearly 7 GW on Tuesday to 50.6 GW as businesses resume after a public holiday on Monday. ($1 = 0.9102 euros)

Reporting by Bate Felix; Editing by Sudip Kar-Gupta

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