German electricity prices surged to โฌ156.14 per megawatt-hour for Tuesdayโthe highest since Februaryโdue to low wind levels reducing output from turbines, according to Eamon Farhat of The New York Times. Wind is forecast to supply less than 15% of demand, forcing greater reliance on costly coal and gas-fired plants. Prices during peak evening hours briefly exceeded โฌ500/MWh. Meanwhile, Franceโs nuclear-heavy grid kept its prices lower at โฌ95.11, highlighting the challenges Germany faces with intermittent renewables amid rising demand. They write:
German electricity pricesย for Tuesday jumped to their highest level since February as low wind levels continue to affect the nationโs thousands of wind turbines withย more expensiveย coal and gas-fired plants needed.The day-ahead price surged to โฌ156.14 per megawatt-hour, in an auction on the Epex Spot SE exchange in Paris. Wind generation is forecast to average 8.3 gigawatts on Tuesday, according to a Bloomberg model. That is less than half the level seen last month according to ENTSO-E data as a high-pressure system brings lower wind speeds this week. […]
Europe has enjoyed relatively low prices over the spring and summer as renewables, especially solar, flooded the grid. However, with demand creeping up, traders are closely watching how wind generation pans out as this can quickly lead to price spikes. Usually one of the biggest sources of power, wind will be less than 15% of forecast demand on Tuesday, according to Bloomberg models. […]
A similar picture is taking hold on Monday with power from burning fossil fuels rising. Generation fromย hard coal, one of the most carbon intensive forms, rose to its highest since April on Monday morning exceeding 6 gigawatts.
In France, theย day-ahead priceย was โฌ95.11, lower than most other parts of Europe as the nation has a large fleet of 57 nuclear reactors that provide most of its electricity and helps mitigate the impact of intermittent renewables.
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