European wind narrowly misses all-time high to average 116 GW Feb.16

European wind power generation was close to all-time records on Feb. 16, averaging 115.6 GW with an hourly peak of 127.4 GW, TSO data aggregated by WindEurope and analyzed by S&P Global Platts show.

Total generation of 2.775 TWh over the 24-hour period covered 28.6% of power demand compared to a record 28.9% on March 11, 2021, the daily data showed.

Wind was forecast to remain very strong over the coming days, deflating spot power prices, but overall levels remained elevated due to nuclear production being down around 10 GW year on year, low hydro and high generation costs for fossil-fired power plants due to elevated gas, coal and EUA carbon prices.

German day-ahead baseload power for Feb. 17 fell to Eur68.64/MWh compared to the 2022 high of Eur297.29/MWh on Jan. 25 when European wind dropped to a 2022-low at 819 GWh, exchange data shows.

No negative hourly prices were registered with Feb. 18 prices rebounding again amid a slight dip in wind ahead of another surge forecast across Northwest Europe.

Month to date, wind turbines across Europe have already generated 33.2 TWh, averaging around 86 GW and putting February on course for a record month and exceed February 2020 levels.

Capture prices for UK offshore wind eased to GBP146.50/MWh for Feb. 16, while those for German onshore wind dropped to Eur117.68/MWh, Platts Renewable Capture Price index shows.

Germany's has Europe's biggest onshore wind capacity, while Great Britain leads in offshore wind.

Daily capture prices for wind swing wildly pending actual production as well as overall price levels set by marginal plants, Platts data show.

EUROPEAN NATIONAL WIND RECORDS (GW)

Source: S&P Global Platts, TSO data via Entso-e, WindEurope, IWR