The wind blew in Germany. The share of wind power jumped above 60%. Wholesale electricity and gas prices went down sharply.
On December 15, the average daily wholesale price of electricity in Germany will drop to 48 euros per MWh, and during peak hours to 85 euros, according to the NordPool exchange. This is 8-10 times lower than on Thursday, when the peak of windlessness was recorded in Germany and more and more gas-fired power plants had to be launched.
If on December 12, the share of wind generation in electricity production in Germany fell to 3.5% (36 GW), then on Sunday, December 15, it rose to 60.4% (505 GW). In turn, gas-fired power plants reduced their share from 33% to 9.2%.
Wind power allows Germany to reduce prices to a minimum with high capacity. However, its instability leads to sharp jumps. For example, the lack of wind during this heating season has led to the fact that these November and December have become the most expensive months for the country since February 2023. The average monthly wholesale price of electricity was 113 euros per MWh and 136 euros per MWh, respectively.
Moreover, during calm weather, Germany is also increasing electricity imports, which leads to price rallies in neighboring countries, which are also suffering due to the weather. So, on December 12, the average daily price in Germany rose to 395 euros per MWh, and during peak hours — to 936 euros. At the same time, in the Netherlands during peak hours, the wholesale price of electricity reached 872 euros per MWh, in Denmark - 936 euros, in Norway — 898 euros, in Belgium — 565 euros, and in Austria - 850.
Enterprises buy electricity on stock exchanges and price jumps increase their costs by millions of euros.
Meteorologists predict windy and warmer weather in Germany and beyond. Therefore, together with electricity and in In Germany, and throughout Europe, the price of gas has also decreased — to $ 454 per thousand cubic meters — the lowest level since the beginning of November. During the week, quotes fell by more than $ 60.
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