European power prices have recovered strongly from record lows earlier this year, with German and French year-ahead power up by more than 50% over the last six months. Andreas Franke explains how concerns about a possible winter supply crunch amid extended nuclear reactor outages in France saw spot prices spike with a sharp rebound for global coal and EUA carbon allowances also lifting the German power curve.
Increased cross-border demand from France is putting Germany on track to become Europe's biggest exporter of electricity this year with Germany's installed wind capacity approaching 50 GW this winter.