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German power prices up as wind wanes; Nordic power climb

Nordic power for next quarter reversed yesterday's drop. Baseload power for delivery tomorrow rose in the over-the-counter market for at least a second day, gaining as much as € 5.25, or 10.1%, to € 57 ($73) a megawatt-hour. It traded at € 56.50 at 10:15 a.m. Berlin time, according to Spectron Group Plc prices on Bloomberg. Power prices change depending on how much capacity traders expect will be available and how much electricity they think the country will consume. Germany has more than 18,000 wind turbines, which can meet about 6% of the nation's demand. Wind-power production may fall to slightly more than 1,000 megawatts tomorrow from today's availability of more than 2,000 megawatts, Berlin-based brokerage Markedskraft Deutschland GmbH said today in an e-mail. The average capacity is about 2,500 megawatts for this time of year, the brokerage said. Loss of wind-power capacity may be offset by the return today of a nuclear reactor. Data on the Web site of the European Energy Exchange AG, showing availability of nuclear production in Germany, indicated that one more reactor would become available today, with nuclear capacity rising 1,241 megawatts to 17,735 today, according to yesterday's update. Two of Germany's 17 working nuclear reactors are out of service for maintenance. Both E.ON AG's Unterweser and the Krummel reactor, jointly owned by E.ON and Vattenfall AB, stopped during the weekend of Aug. 5 to Aug. 6. In the Nordic power market, Nord Pool ASA's contract for next quarter, usually the most actively traded, gained as much as € 3, or 3.6%, to € 85.50 a megawatt-hour, reversing yesterday's drop, the first in six sessions. The contract has gained 74% since June 1. (Bloomberg)