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2026-11-05 17:54:27
[Electricity Prices Rise in Germany and France Due to Expected Decline in Wind Output] ⑴ Electricity prices in Germany and France rose on Thursday as expected declines in wind output and increased demand tightened the supply-demand balance. ⑵ Meanwhile, forward contracts fell, following a weakening trend in natural gas prices. ⑶ German baseload futures contracts rose about 7% to around €269 per megawatt-hour. ⑷ French similar contracts rose about 6% to around €272 per megawatt-hour, the highest since December 2022. ⑸ Analysts said that declining solar and wind power output coupled with increased demand tightened the supply-demand balance in Germany, while France also experienced a tightening due to reduced wind power. ⑹ German wind power output is expected to decline by 1.29 gigawatts to 13.36 gigawatts on Friday, and French wind power output is expected to decline by 2.75 gigawatts to 0.40 gigawatts. (7) German solar power output is expected to decrease by 1.67 GW to 5.89 GW, while French solar power output is expected to increase by 0.16 GW to 2.66 GW. (8) German electricity consumption is expected to increase by 0.58 GW to 59.87 GW, while French electricity consumption is expected to increase by 0.18 GW to 58.25 GW. (9) A nationwide strike in France resulted in a 2.4 GW decrease in nuclear power output on Thursday morning. (10) German forward baseload contracts fell by about 1% to around €144 per MWh, following lower natural gas prices. (11) The Dutch TTF benchmark near-month natural gas contract fell by about 2% to around €86 per MWh. (12) Some analysts believe that the renewed hope for peace between the US and Iran is a negative factor for the natural gas-dependent German electricity market, and expect further declines in gas prices to drive electricity prices down further.
