German Power Prices Surge Above 400 Euros per MWh as Wind Output Plummets on Thursday

According to Bloomberg models, German electricity prices surged above 400 euros per megawatt-hour during Thursday evening peak demand, marking the highest level in a year. Wind power generation is forecast to plunge to just 1.5 gigawatts at 8 p.m., forcing the market to rely on costlier fossil fuel alternatives. Data from Epex Spot shows day-ahead power contracts averaged 140 euros per megawatt-hour.
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