London — German day-ahead power prices rebounded Thursday as wind output was forecast to drop Friday, but the monthly spot average for May was still on track for its lowest level since at least 2003, according to sources.
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Baseload power for day-ahead delivery was last heard OTC Eur2 higher at Eur31.50/MWh, while the peakload contract rose Eur3.50 on the day to Eur33.50/MWh.
Epex Spot settled Friday below OTC at Eur31.12/MWh baseload and Eur32.58/MWh peakload.
Wind power output was forecast to fall back to 5 GW Friday, but was set to rise again above 10 GW Saturday, according to a source.
Solar output was forecast little changed averaging around 11 GW during peakload hours, the source added.
Germany's combined wind and solar portfolio is estimated to have risen above 80 GW.
Nuclear availability remains above 10 GW until the weekend with only one of Germany's nine reactors currently offline for maintenance, data from EEX transparency showed
On the near curve, June baseload added another 10 euro cent to Eur28.70/MWh.
Further out, Calendar 2016 baseload was heard trading at Eur31.45/MWh, up 15 euro cent from Thursday's close. Wednesday morning the contract was heard at Eur31.15/MWh, a level not seen for a year-ahead contract since 2003, Platts data showed.