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2026-05-27 18:28:12
[Heat Wave Sweeps Europe, Wind Power Plummets by Nearly 10 GW, German Electricity Prices Surge 31% to €112.8] ⑴ German baseload electricity prices jumped 31.16% to €112.8 per megawatt-hour on Wednesday. Consulting firm Mind Energy pointed out that the heat wave in Germany and other parts of Europe, coupled with sluggish wind power output, was the main reason for the surge in spot prices. On Thursday, German wind power supply is expected to decrease by 9.67 GW to 4.39 GW, while French wind power supply will only increase slightly by 790 MW to 2.67 GW, approximately 10% of the country's installed wind power capacity. ⑵ Most of Europe experienced unusually high temperatures this week, leading to increased demand for cooling and boosting electricity consumption. Analysts at Engie EnergyScan stated that extremely strong solar output in the region at midday pushed spot prices to near zero euros per megawatt-hour for some periods. On Thursday, German solar power generation is expected to increase by 1.3 GW to 23.35 GW, while French solar output will decrease slightly by 150 MW to 6.4 GW. (3) France's nuclear energy availability rate remained at 87% of total capacity. Regarding forward contracts, the German 2027 baseload contract fell 0.81% to €92.25 per megawatt-hour, while the French 2027 contract remained unchanged at €56. Natural gas prices declined slightly due to ample supply, while the benchmark European carbon contract rose 1.5% to €79.23 per tonne.
