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 December 11, 2015 - 4:40 PM EST
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European Power Prices Plunged in November on Germany's Record Wind Production

Natural Gas Prices Also Declined on Plentiful Supply, Flat Demand

LONDON, Dec. 11, 2015 /PRNewswire/ -- Continental European power prices tumbled in November as exceptional wind power output combined with mild temperatures and unexceptional demand, according to a data analysis released by Platts, a leading global provider of energy, petrochemicals, metals and agriculture information.

European power prices, according to the Platts Continental Power Index (CONTI)*, fell 9.4% per megawatt hour (MWh) in November compared to October. On a year-over-year basis, the index was down 1.6%.

Platts' regional analysis of European power and gas markets showed the following:

  • Germany: day-ahead prices in November averaged €32.12/MWh, down 17% month over month as Germany's vast fleet of wind farms averaged 14.7 GW of operational capacity each hour, a new record and up 165% on this time last year. Increased exports, plant optimization and coal transport problems due to low river levels offset some downward pressure on prices, but into December day-ahead prices had fallen below €30/MWh as bearish fundamentals intensified.
  • France: day-ahead prices fell 4% month over month to €42.39/MWh in November, but were up 10% year over year as a dip in hydro, coal and nuclear output was offset by more expensive natural gas-fired production. Gas-fired generation was up more than 300% year over year in November to 3.42 terawatt hours (TWh), while nuclear output was down 1.63% year-on-year to 35.55 TWh.
  • U.K. power: average day-ahead prices in November were 6% down month over month and 22% down year over year. Wind production of 2.6 TWh in November was just shy of December 2014's record. Mild temperatures and cheaper gas prices served to undermine prompt power prices further.
  • U.K. gas: National Balancing Point (NBP) day-ahead gas prices shrugged off seasonal trends to drop 9.9% month over month, and were down a hefty 33.9% compared to November 2014 levels. Increases in indigenous production from the U.K. Continental Shelf, strong imports from Norway and higher volumes of Qatari LNG arriving in to U.K. terminals all weighed on the NBP spot price.

Platts Powervision data shows that over the past two years Germany had brought online 7 GW of coal-fired generating capacity and over 10 GW of wind capacity, with a boom in offshore wind installations this year ensuring higher load factors per MW installed.

With domestic demand stable, growing overcapacity has seen Germany increase its electricity exports to neighboring markets, with the country's net export balance of 36 TWh for the January-September period already above last year's total net export balance.

Platts Continental Europe and U.K. Day-Ahead Monthly Averages








TTF (€/MWh)




U.K. Power (£/MWh)




U.K. Gas (pence/therm)




Source: Platts

NOTE: All figures are monthly averages of daily day-ahead contract prices as assessed by Platts.

For more information on electric power or the methodology used by Platts in its power assessments, visit the Platts website

* The Platts CONTI is a demand-weighted baseload average of day-ahead contracts assessed in Germany, Switzerland, France, Belgium and the Netherlands. The Platts U.K. assessments reflect day-ahead contracts assessed for firm delivery of power on the high voltage network of England, Wales and Scotland, and at the National Balancing Point (NBP) for gas. The Platts assessments reflect prices as determined between buyer and seller in the open physical markets.

Global, Americas, Asia: Kathleen Tanzy, + 1 917 331 4607,

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets.  A division of McGraw Hill Financial, Platts is based in London with more than 1000 employees in more than 15 offices worldwide. Additional information is available at

About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include Standard & Poor's Ratings Services, S&P Capital IQ and SNL, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 20,000 employees in 31 countries. Additional information is available at

Source: PR Newswire (December 11, 2015 - 4:40 PM EST)

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