German Renewables Output Helps Cut European Power Prices by 8.4 Pct



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Day-ahead electricity prices in continental Europe recorded a fifth consecutive monthly decline in March as surging German solar and wind output helped chase prices lower in neighboring countries, according to data released by Platts, a leading global energy, petrochemicals and metals information provider.

The Platts Continental Power Index (CONTI) fell 8.4% in March to €35.06 per megawatt hour (/MWh) compared to the February level of €38.28/MWh. The index is down more than 39% since peaking at €50.50/MWh in November last year.

“A mid-March surge in German wind output followed seven days of peak solar output, which rose above 20 gigawatts (GW) to a new monthly record of 23 GW on March 20,” said Andreas Franke, Platts managing editor, European power and gas.