German power prices rose to their highest since June as an expected sharp drop
in wind output increased reliance on pricier fossil‑fuel generation. Epex Spot
data showed Thursday day‑ahead prices at €191.82/MWh; the 7pm contract spiked to
€460.86/MWh, the highest for that hour so far in 2024. Models forecast wind
generation around 3.5 GW at 8pm — under one‑third of the year‑to‑date average —
lifting demand for gas‑fired output ahead of the heating season. The move
coincides with Middle East tensions that have pushed wholesale gas prices
higher. Germany’s large weather‑dependent renewables fleet makes it particularly
exposed: when wind and PV fall, the country shifts to more expensive fossil
generation and increases imports.
