German Spot Prices Fall on Wind Surge, French Rise on Tight Supply
Divergent Moves in German and French Power Markets
European power markets diverged sharply on Thursday. German day-ahead prices fell more than 10% as rising wind output weighed on prompt contracts, while the equivalent French contract rose on expectations of higher consumption and lower wind supply.
German Price Decline
The German day-ahead baseload contract (TRDEBD1) fell 11.09% to €102.25 per megawatt-hour. Wind power supply is forecast to rise by 2,700 MWh to 7,090 MWh. Solar generation is expected to ease by 720 MWh/h to 22,630 MWh/h due to increased cloud cover.
French Price Increase
The French day-ahead contract (TRFRBD1) rose 2.3% to €80/MWh. French wind output is projected to fall by 440 MWh to 2,230 MWh, while consumption is seen up 2,470 MWh to 47,160 MWh.
Forward Markets and Other Developments
The German year-ahead baseload contract (TRDEBYc1) rose 1.37% to €93.7/MWh. The French June 2026 power contract rose 60 cents to close at €34.74/MWh. Dutch and British wholesale gas prices rose after Iran launched retaliatory strikes and uncertainty over the Strait of Hormuz. Benchmark European carbon permits (ECF1!) rose 0.3% to €78.99 a metric ton.
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