German power prices rise 29 percent amid heat and low wind
German power prices rose 29 percent as a heatwave lifted cooling demand. Lower wind output forced a shift to more expensive gas and coal-fired generation.
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Germany day-ahead electricity prices jumped 29% on Wednesday as a regional heatwave increased cooling demand and wind generation plummeted. Prices rose for Thursday delivery as cooling degree days reached their highest levels in decades. Investors face higher volatility as power grids rely on more expensive coal and gas to offset renewable shortfalls.
