November 27, 2017 / 7:35 AM / 10 months ago

Drop in wind output lifts German day-ahead power contract

PARIS, Nov 27 (Reuters) - German spot electricity prices for day-ahead delivery rose on Monday buoyed by forecasts of a sharp drop in wind power generation, while cold weather in Western Europe was expected to push demand higher.

The German baseload power contract for Tuesday delivery was up 6.25 euros, or nearly 20 percent, to 38.25 euros a megawatt-hour (MWh) compared with the price paid on Friday for Monday delivery.

Electricity production from German wind turbines will decrease by over 5 gigawatts (GW) day-on-day on Tuesday to around 20 GW, according to Thomson Reuters data. Consumption will rise by 1.3 GW to 78 GW during the same period. (Reporting by Bate Felix; editing by Richard Lough)

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