German prompt power prices remained weak Friday with negative prices looming for Sunday as a forecast surge in wind may coincide with still healthy solar levels in the south amid generally weak holiday demand and temperatures remaining below the summer average, according to sources.
Power for delivery this weekend closed at Eur13.75/MWh, Eur1 below Thursday's close and some Eur6 below last weekend's price, almost closing the gap with French weekend contracts, which have been trading at a substantial discount throughout the summer.
Saturday was last heard at Eur22.50/MWh, with Epex Spot settling the contract below OTC at Eur20.20/MWh. Sunday base was heard at Eur5.20/MWh with Sunday peakload contracts changing hands at minus Eur2/MWh and a realistic chance of widespread negative hourly price for Sunday's spot auction.
Baseload power for delivery Monday was heard at Eur22/MWh, more than Eur8 below where Friday power closed on Thursday. Monday peakload was also more than Eur8 below Friday's price at Eur24.95/MWh.
Wind power output was forecast to double over coming days to around 8 GW Saturday and possibly 18 GW for Sunday's baseload hours and remaining there for Monday, according to a market source.
Solar output was also forecast to rebound from around 4 GW for Saturday's baseload hours to around 6 GW Sunday and Monday, the source said.
Combined wind and solar output was forecast to peak above 30 GW Sunday as well as Monday afternoon, similar to actual output last Sunday and Monday.
During July, wind power output averaged 3.1 GW, while solar output averaged 5.9 GW for baseload hours, according to Platts PowerVision data.
Germany's installed wind and solar portfolio now totals more than 73 GW.
Nuclear availability was pegged at 10.5 GW over the weekend and going into week 34 with only the Philippsburg 2 nuclear reactor offline for maintenance until August 28, according to plant operator data.
On the near curve, September base was little changed at Eur33.80/MWh.
Further forward, Calender 2015 base gained 10 euro cents to Eur35.80/MWh.
