European day-ahead prices surged Thursday as renewables generation in Germany is set to come off from a weekly high on Thursday from 36.5 GW to 25.4 GW Friday, data from spotrenewables.com showed, despite traditionally lower demand on a Friday.
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German day-ahead baseload delivery was Eur9.50 higher at Eur37.75/MWh, while peakload was up Eur13.45 at Eur41.70/MWh. In France spot prices gained as well but not as strongly, with day-ahead baseload Eur3 higher at Eur45/MWh, while peakload added 55 euro cent to Eur49.55/MWh.
In Germany, wind generation is set to fall to 17.9 GW during peak times from 24.6 GW, while solar output is forecast to fall 4.5 GW to 7.5 GW, spotrenewables.com data showed.
Combined wind and solar output is forecast to average 24.1 GW during Saturday's peak hours, falling further to 14.8 GW on Sunday and Monday, the data showed.
Lignite and coal availability in Germany is set to increase to 28.7 GW Friday and 29.65 GW on Saturday, EEX Transparency data showed.
FAR CURVE POWER REMAINS STRONG
Despite a slight down-tick for the German Cal-19 baseload contract Thursday morning by 5 euro cent, most gains of recent days could be maintained. The contract was last seen at Eur37.60/MWh, up Eur1.45/MWh week on week.
Bullish energy markets and especially gains in coal have lifted the German benchmark contract to a record high. European front-year coal was last seen at $81.70/mt, while EU carbon allowances were 19 euro cent lower at 13.20/MWh.
French year-ahead power baseload delivery traded at Eur42.15/MWh Thursday morning, down 25 euro cent.